Overview

• Emma Crystal, currently UBS’s chief sustainability officer, will become CEO of NatWest’s wealth management division, encompassing Coutts, later this summer.
• Crystal’s appointment follows the resignation of Peter Flavel and NatWest CEO Dame Alison Rose after the debanking scandal involving Nigel Farage.
• An independent review found no evidence of political bias in Coutts' decision-making but acknowledged shortcomings in account closure processes.
• NatWest, partially owned by the British government, is on a trajectory towards full privatization, with plans to sell shares to retail investors as early as June.
• Crystal’s extensive experience in sustainability and diversity initiatives is expected to guide Coutts through its next chapter, amidst efforts to recover from reputational challenges.