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On 15 January 2026, NatWest Group announced that Keiran Foad has stepped down as Group Chief Risk Officer and has left the bank, with Sean Pilcher appointed as Interim CRO while a permanent successor is sought.
Keiran Foad was previously informed that he was a key part of a forthcoming PropertyCorruption.com documentary feature, and that continued silence or procedural non-engagement would be recorded as part of the evidential public timeline. It also came one day after the draft of the 6 months update of the case was issued.
This development matters in the context of unresolved and repeatedly documented risk concerns raised throughout 2025. The Group Chief Risk Officer sits at the centre of institutional escalation, oversight, and accountability. In this case, Keiran Foad was directly included in extensive correspondence over many months, with a pattern of selective engagement and prolonged silence despite the seriousness of the issues being raised.
The immediate issue is therefore not the personnel change itself, but the governance handover.
We now hold a complete handover pack covering everything connected to Mr Foad’s involvement in this matter. That pack includes a full record of every email received, opened, read, or left unread — and the question is whether Interim CRO Sean Pilcher is willing to review it directly.
This is not an opportunity for institutional narrative reset. Risk exposure does not disappear with leadership turnover. If serious concerns were established within NatWest’s risk structures, they remain established, traceable, and actionable under new leadership.
This moment represents a critical governance checkpoint in the ongoing record — not an ending, but a continuation.
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