NatWest Group, a British banking and insurance holding company, is exploring the sale of its 85% stake in Cushon, the UK-based fintech pensions platform it acquired for £144 million in 2023, as part of a strategic shift to refocus on its core banking operations. Cushon, founded in 2016, has grown to manage nearly £3 billion in assets and serves over 650,000 members across 21,000 employers, with its master trust contributing 97% of its £17.4 million revenue last year. The potential divestment reflects CEO Paul Thwaite’s simplification drive. It comes amid regulatory pressures pushing pension scheme consolidation, sparking early interest from asset managers and other banks in Cushon’s tech-enabled platform.

NatWest Eyes Exit From Fintech Venture Cushon Amid Strategic Pivot