NatWest Group plc has appointed Paul Thwaite as its permanent chief executive, as it revealed its highest yearly profit since before the 2008 financial crisis. Mr. Thwaite succeeds Dame Alison Rose, who stepped down in the wake of the debanking row last year. Mr. Thwaite became NatWest's interim boss in July.

He was previously running the bank's commercial business. He stepped in after Dame Alison's exit in the wake of the socalled debanking row around former Ukip leader Nigel Farage's account with Coutts, a high-networth bank owned by NatWest.