Paul Thwaite, the CEO of NatWest, has received the largest payout for a banking CEO since the infamous Fred Goodwin era in 2006. Thwaite's pay package for 2025, totaling £6.6 million, surpasses the £5.2 million received by his predecessor, Alison Rose, in 2022. This significant increase comes after Thwaite led NatWest out of its bailout and into full private ownership in 2024. The bank's privatization and the lifting of the banker bonus cap, which had previously limited bonuses to twice the salary, contributed to Thwaite's substantial earnings. Despite the controversy, Thwaite's success in turning around NatWest has been recognized, with the bank reporting a 24% rise in pre-tax profits for 2025. However, the question remains whether his pay reflects the bank's performance during the financial crisis, as Goodwin's excesses are blamed for the bank's near-collapse in 2008.
