It’s interesting TLT’s recent article on the latest SFO business plan which contains:
Doesn’t ignoring an active government investigation into TLT and their links to NatWest Group seem to be something that the Serious Fraud Office would care about? What advice could Mr Cooper and Ms Millward give to clients – how to ignore a crisis that may sink the UK? Are the tactics used by TLT fraud? – see article here and how about our latest article below.
Why the NatWest Group Crisis Is Worse Than the Mandelson Crisis
The sudden departure of NatWest Group Chief Risk Officer Keiran Foad in mid-January, and his subsequent flight to Portugal, is much worse than the Mandelson crisis (see BBC link here). Keir Starmer’s previous role as Director of Public Prosecutions and current role as Prime Minister gives him significant power and leverage. This means he is unlikely to be toppled by the Mandelson crisis and can manage it internally, as it is mainly UK-focused.
Why the NatWest situation is significantly worse:
- It is not UK-centric: The global financial system demands at least the appearance of continuity and stability. If NatWest Group has not replaced Foad by the end of 2026, Keir Starmer will be powerless to mitigate the fallout.
- Market reactions are beyond UK control: As global hedge funds and other institutions begin altering their positions in response to the month-by-month increase in risk, there is nothing Starmer or the UK government can do to intervene.
- Broader institutional contagion: The implications extend beyond NatWest, entangling both Nationwide and Barclays as well.
- It presents a binary data point: There is a stark choice: either a permanent Chief Risk Officer (CRO) is appointed (along with all the associated, potentially criminal, risks), or one is not.
- Global visibility: Whether the UK press decides to ignore the issue is irrelevant; the story has already been viewed by hundreds of major global entities.
Read the latest case study update here for the full details.