Oliver Wyman’s Matt Austen joins NatWest as Director of Strategy

30 June 2022 Consultancy.uk 2 min. read
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A Partner of more than two decades with Oliver Wyman has joined NatWest Group as Director of Strategy, Corporate Development and Sustainability. Matt Austen will sit on the bank’s Executive Committee from early September.

Matt Austen became a Partner with global strategy consultancy Oliver Wyman in 2002. In the years since, he rose to lead the company’s financial services practice in Europe, and presided over several major clients through a range of strategic and transformational situations.

Most recently, Austen’s work focused on advising clients on their response to disruption, whether driven by technology, new entrants, regulation, or the geo-political context. He also previously held senior positions including Head of Corporate & Institutional Banking Practice, EMEA, Head of Human Resources, and Head of Corporate & Institutional Banking, Asia-Pacific.

Matt Austen, NatWest Group

Commenting on his new role, Austen noted, “The bank has an ambitious strategy built on one clear purpose; championing potential, helping people, families, and businesses to thrive. It is a tremendous privilege to be joining NatWest Group at such an important time for the bank and its customers.”

Arriving at a pivotal time for the bank, Austen joins NatWest while it develops deeper relationships with its 19 million customers, including strengthening its sustainability credentials. For example, in October 2021, NatWest Group announced a new target to provide £100 billion of climate and sustainable funding and financing before the end of 2025.

Austen’s new role of Director of Strategy, Corporate Development and Sustainability feeds into this re-positioning of the bank, and replaces Director of Strategy & Ventures. The holder of that former role, Olly Holbourn, is meanwhile taking up a new role with the Group as Chief Executive of RBSI, at the start of July 2022.

Alison Rose, Chief Executive Officer of NatWest Group, stated, “I am delighted to welcome Matt to the team. Matt will bring great experience to the bank, particularly now as we look forward to the next stage of our strategy, building on the great progress of the last two and half years, as well as how we help and support our customers with the cost-of-living crisis.”