Business

Ulster Bank in corporate governance changes

Ulster Bank is making a significant corporate governance change

ULSTER Bank following a successful alignment with Royal Bank of Scotland and NatWest first announced in 2015,is to further stremaline its corporate governance.

The linkage has enabled Ulster Bank customers in Northern Ireland to benefit from scaled innovation, product improvements and investment – including the establishment of a best-in-class Accelerator Hub for entrepreneurs, Apple Pay and FaceID login for its mobile app, and jobs in its Danesfort contact centre serving customers of Ulster Bank, NatWest and Royal Bank of Scotland.

Continuing the process, the bank informed staff yesterday that it plans to change the legal entity under which the Ulster Bank business in Northern Ireland operates by moving it into the NatWest legal entity. This is a corporate structure change to streamline governance.

The change will be subject to regulatory confirmation and a court approval process and is currently intended to complete towards the end of next year.

Richard Donnan, head of Ulster Bank in Northern Ireland, said: “This change streamlines our governance and reporting framework meaning we can continue our focus on providing help for what matters to our extensive, loyal and valued personal and business customer base across Northern Ireland."

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