National rank
#4
Position in the 2026 British CEO Performance Ranking.
CEO & company research profile · Reviewed 2026-09-13
Paul Thwaite: NatWest Group
Paul Thwaite ranks #4 in the 2026 British CEO Performance Ranking with a Meridian score of 87.9. This expanded profile shows the operating record, strategic case, risk factors and category scores behind that result.
Meridian score
87.9 / 100
Composite score using the common seven-factor Meridian framework.
Company
NatWest Group
A nationally significant listed company included in the 2026 research universe.
Leadership tenure
NatWest Group CEO since July 2023
Tenure is considered when deciding how much operating evidence can reasonably be attributed to the current CEO.
Operating record
2025 performance snapshot
NatWest delivered £7.7bn of 2025 profit before tax and a 19.2% return on tangible equity while returning fully to private ownership.
2025 operating profit before tax rose to £7.7bn, ROTE reached 19.2% and shareholder distributions increased materially.
Seven-factor score breakdown
| Factor | Weight | Score |
|---|---|---|
| Shareholder performance | 25% | 89 / 100 |
| Revenue & earnings | 20% | 93 / 100 |
| Capital efficiency | 15% | 94 / 100 |
| Strategic execution | 15% | 91 / 100 |
| Innovation & future investment | 10% | 83 / 100 |
| Workforce signal | 10% | 85 / 100 |
| Governance | 5% | 89 / 100 |
Category scores are editorial-data assessments based on the published methodology and available public evidence. They are designed for comparative research, not investment advice.
Strategic assessment
Strategic execution
Use a strong UK retail and commercial franchise to grow customers, deepen digital engagement and improve fee income while maintaining disciplined risk.
Capital allocation
Strong capital generation has supported rising distributions and a cleaner post-government-ownership investment case.
Innovation and future investment
Digital banking, data and AI increasingly improve service and productivity, though they are not the primary source of earnings growth.
Workforce and operating model
The strategy combines branch and service transformation with digital and data investment.
What could change the ranking
Risks and counterweights
UK macro concentration, conduct regulation and sensitivity to interest-rate normalisation remain the key offsets.
Future editions can move the score materially when annual results, acquisitions, capital-allocation decisions, management changes, regulatory events or significant governance developments alter the evidence base.
View the primary or investor source used for this profile.
Meridian uses annual reports, official results, filings and attributable investor disclosures as the primary evidence layer. Comparative scores are versioned and may change as new evidence becomes available.