Lena Wilson

Ms Wilson, who also chairs the bank’s performance & remuneration committee, previously served as chief executive of Scottish Enterprise.

Rick Haythornthwaite, chair of NatWest Group, said: “Lena Wilson is a highly experienced board member who has demonstrated strong leadership and is highly regarded by her fellow directors.

“I am confident she will make a valuable contribution to the board as senior independent director. In addition, Lena will continue to chair the Group Performance & Remuneration Committee.”

He added: “I would like to thank Mark Seligman for his significant contribution to the board and its committees since his appointment in April 2017.

“During his tenure, Mark has dedicated significant time to NatWest and has been a highly valued director and colleague. We will miss his wise counsel and contributions around the board table. He leaves with our very best wishes for the future.”

Additionally, Gill Whitehead will join the board as an independent non-executive director from 8 January 2025. She recently left her position as group director, online safety, at Ofcom.

Mr Haythornthwaite said: “Gill’s deep expertise in data science and analytics, emerging customer focused technologies, global technology regulation and digital transformation are all highly relevant skills. She will be a strong addition to the board.”

These changes coincide with the Treasury reducing its stake in NatWest to below 10% following the sale of a further 3.2 million shares.