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 ongoing strategy to simplify its operations and focus on core banking and wealth management.
NatWest Group has confirmed that the transaction is expected to finalize in the third or early fourth quarter of 2026. Upon completion, all 220 employees of Mentor 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 consultancy services in employment law and health and safety. Despite the sale, NatWest will maintain a referral partnership to offer Mentor’s services to its commercial mid-market and business banking clients.
This sale is part of a broader initiative under Chief Executive Paul Thwaite, who has been actively restructuring the bank. Thwaite stated, “This sale marks an important step in our strategy to simplify and focus on what matters most to our customers and colleagues.”
In addition to the Mentor sale, NatWest recently agreed to acquire Evelyn Partners for $3.62 billion, a move that will create the largest bank-owned wealth manager in the UK, boasting £127 billion in assets under management. This acquisition aligns with NatWest’s goal of enhancing its wealth management capabilities.
Furthermore, NatWest has also sold its workplace pensions FinTech, Cushon, to Willis Towers Watson, indicating a clear trend towards divesting non-core operations. The bank aims to cut costs by £150 million, with an annual reduction target of £100 million.
Rena Christou, a representative from Empowering People Group, emphasized the synergy between the two organizations, noting that Mentor is a “natural and complementary fit” with aligned values and a commitment to high standards.
The deal marks the latest in a series of structural changes under Thwaite’s leadership, which has included previous acquisitions by Limerston Capital, such as Halborns and Learning Nexus.
As NatWest continues to refine its focus, the implications of these strategic moves will unfold in the coming months. While the sale of Mentor is a significant step, details remain unconfirmed regarding how these changes will impact the bank’s overall market position.