What does NatWest’s recent decision to sell its human resources advisory business, Mentor, to Empowering People Group signify for the bank’s future? The answer lies in NatWest’s strategy to simplify its operations and focus on core banking and wealth management.
NatWest Group has confirmed that the transaction is expected to complete in either the third or early fourth quarter of 2026. Upon completion, all 220 Mentor employees will transfer to Empowering People Group, which is backed by Limerston Capital and provides HR, legal, and health and safety services.
Mentor, established in 1997, serves approximately 100,000 customers across the United Kingdom, offering vital employment law, health and safety, and environmental consultancy services to small and medium-sized enterprises.
NatWest will maintain a referral partnership with Mentor, allowing it to continue offering these services to its commercial mid-market and business banking clients. This strategic move follows NatWest’s recent acquisition of Evelyn Partners for $3.62 billion, which will create the largest bank-owned wealth manager in the UK with £127 billion in assets under management.
Robert Begbie, a spokesperson for NatWest, stated, “This sale marks an important step in our strategy to simplify and focus on what matters most to our customers and colleagues.” Rena Christou from Empowering People Group emphasized that Mentor is a natural fit for their organization, highlighting aligned values and a shared commitment to high standards.
This sale is part of a broader trend of structural changes under CEO Paul Thwaite, who has described the move as creating the “third growth engine” for the group. Recently, NatWest also sold its workplace pensions FinTech, Cushon, to Willis Towers Watson, further indicating a shift in focus.
As NatWest continues to streamline its operations, the implications of these changes for its overall business strategy remain to be seen. Details remain unconfirmed regarding any further acquisitions or divestitures that may follow this sale.