NatWest (NWG.L) has announced the appointment of Mark Rennison, the former Chief Financial Officer of Nationwide Building Society, to the board of its ring-fenced retail bank. Rennison will serve as a non-executive independent director on the board of NatWest Holdings Limited (NWH), which encompasses the lender’s retail, commercial, and wealth banking businesses. These units were separated from the riskier banking divisions at British banks in accordance with post-2008 financial crisis regulations designed to safeguard individual savers and small businesses. Rennison’s appointment comes after Graham Beale’s departure from the NWH board on August 31, as previously announced by NatWest in April.
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