NatWest Cymru has announced plans to relocate its Welsh headquarters from One Kingsway to a new flagship office at One Central Square, Cardiff.
The new head office will act as a central base for colleagues, business customers and partners, while also strengthening the presence in Wales of Coutts, NatWest Group's private bank.
One Central Square will also become the new home of the NatWest Cardiff Accelerator Hub – a dedicated space for Welsh entrepreneurs and start-ups. The NatWest Accelerator programme has already supported more than 500 Welsh entrepreneurs, start-ups and businesses this year through free coaching, networking and expert advice, and the new hub will provide additional space for businesses to connect, collaborate and grow in the heart of Cardiff.
The bank said the new office would include Welsh language branding and services for customers and colleagues in both Welsh and English. This builds on the bank's wider commitment to Welsh language services, including a dedicated Welsh language customer line and Welsh-language ATM services.
NatWest's roots in Wales stretch back more than two centuries, beginning with local banking partnerships such as David Morris & Sons in Carmarthen in the late 1700s and expanding through historic banks like Crawshay, Bailey & Co and Richards & Co. Many of NatWest's Welsh branches trace their origins to National Provincial Bank, which played a pivotal role in serving Welsh communities and businesses throughout the 19th and 20th centuries.
Adam Price, Welsh Government Cabinet Minister for Enterprise, Connectivity and Energy, said:
“A thriving business district in our capital city is essential to Wales' economic prosperity, and NatWest Cymru's decision to establish its new Welsh headquarters at One Central Square demonstrates strong confidence in Cardiff's property market and in Wales as a whole.
“As a newly elected government we are committed to fostering a strong culture of entrepreneurship in Wales, and we share NatWest's ambition to help entrepreneurs and start-ups build the skills and confidence they need to succeed in a rapidly changing world.”
Paul Thwaite, Chief Executive Officer, NatWest Group, said:
“Our investment in a new NatWest Cymru head office is a statement of our confidence and our ongoing commitment to Wales. We have supported Welsh customers for generations and we want to continue to be a partner in its future – with expert teams that understand the needs and ambitions of our customers across the country.
“Backing powerful nations and regions sits at the heart of our Growing Together strategy. By bringing together the expertise and knowledge of our NatWest Cymru and Coutts colleagues, as well as an expanded Accelerator space, in the centre of Cardiff's business community, we're strengthening our ability to support economic growth, unlock opportunity and help power Welsh ambition.”
Jessica Shipman, Chair of the NatWest Cymru Board, said:
“Being based at One Central Square puts us right at the heart of the Welsh economy – so we can back the people, businesses and entrepreneurs driving growth across the nation.
“NatWest has been part of Wales' story for more than 200 years. While the economy has changed over that time, our role has remained the same – supporting customers, businesses and communities across the country, and helping them succeed.
“What began as a collection of regional banks supporting farmers, traders and industrial pioneers has grown into today's NatWest Cymru – as a trusted partner for future Welsh growth.
“We're proud to open our doors at One Central Square and continue providing services in both Welsh and English, ensuring everyone feels welcome. Our Queen Street branch will remain open as usual for everyday banking.”
The move is being led by a senior team including Jessica Shipman; Kirstin Jenkins, Local Director, North & West Wales; Kate Banks, Local Director, South East Wales; Gemma Yorke, Director South Wales Business Banking & West Wales Commercial Banking; Siwan Rees, NatWest Accelerator Community Manager; and Christopher James, Head of Lombard in Wales.
The new office will span 650 sqm in total and provide desk space for up to 70 in addition to a client meeting and event suite.
Siwan Rees, NatWest Accelerator Manager, said:
“Moving our Accelerator Hub to One Central Square marks a powerful new chapter for NatWest Cymru and the entrepreneurs we support.
“While our journey began years ago in our original Cardiff location, this investment in a new, state-of-the-art space signals our continued belief in the ambition and potential of Welsh business. We are proud to provide a home where the next generation of Welsh entrepreneurs can connect, innovate, and grow – right in the heart of the city.”
Work has now started to refurbish the new offices and NatWest Cymru is expected to begin working from there later in the year.
