NatWest Agrees to Sell Mentor to Empowering People Group

What does NatWest’s recent decision to sell its human resources advisory business, Mentor, to Empowering People Group signify for the bank’s future? This sale is a strategic move aimed at simplifying NatWest’s operations and focusing on its core banking and wealth management services.

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 specializes in HR, legal, and health and safety services.

Mentor, established in 1997, serves approximately 100,000 customers across the United Kingdom, providing essential employment law, health and safety, and environmental consultancy services to small and medium-sized enterprises.

Despite the sale, NatWest will maintain a referral partnership to offer Mentor services to its commercial mid-market and business banking clients, ensuring continuity for existing customers.

This divestment is part of a broader strategy under CEO Paul Thwaite, who has been actively restructuring the bank. Recently, NatWest also agreed to acquire 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.

Thwaite emphasized the importance of this sale, stating, “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 echoed this sentiment, describing Mentor as a “natural and complementary fit” for their organization.

In addition to the sale of Mentor, NatWest has also sold its workplace pensions FinTech, Cushon, to Willis Towers Watson, further indicating a shift in focus towards its core banking operations.

As NatWest continues to streamline its business, the implications of these changes on its overall strategy and market position remain to be seen. The ongoing restructuring efforts are expected to result in planned spending of £150 million to cut costs, with an annual cost reduction target of £100 million.

Details remain unconfirmed regarding the long-term impact of these strategic moves on NatWest’s market share and customer relationships.