NatWest wants potential 43% payrise for boss as government reduces stake below 7%

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Guardian reports that NatWest want the maximum salary of Mr. Thwaite to rise by up to 43 per cent, with up to £7.7m earnings for a year, which due to bonuses linked to the group’s share price could see it rise even higher. Shares in the bank on the London Stock Exchange were down around 3.8 per cent by 11am GMT despite the positive results, with Russ Mould of AJ Bell saying “the market has already priced in that success” and noting that “investors were upset there wasn’t enough in the forward guidance to warrant large upgrades to earnings forecasts,” resulting in some profit-taking since shares are up over 100 per cent across the past year. NatWest announced that £1.2bn, or 15.5p a share, will be paid out to shareholders which the Guardian reports means the Treasury, which at its current sub-7 per cent holding, would receive around £84m of. This saw the bank’s total workforce cut by more than 3 per cent in 2024, incorporating a 10 per cent reduction in workers across its retail banking operations.