NatWest Group has agreed to sell its human resources advisory business, Mentor, to the private equity-backed Empowering People Group as part of a strategy to focus on core banking and wealth management operations.

The transaction, announced on Wednesday, is expected to complete in either the third or early fourth quarter of 2026. While the financial terms of the deal were not disclosed, Sky News reported that all 220 Mentor employees will transfer to the new owner upon completion.

Mentor was established in 1997 to provide employment law, health and safety, and environmental consultancy services to small and medium-sized enterprises. The unit currently serves approximately 100,000 customers across the United Kingdom.

NatWest will continue to offer Mentor services to its commercial mid-market and business banking clients through a referral partnership. Robert Begbie, commercial and institutional chief executive at NatWest, said: “This sale marks an important step in our strategy to simplify and focus on what matters most to our customers and colleagues.”

The divestment follows a series of structural changes under chief executive Paul Thwaite intended to tidy the balance sheet. The bank recently sold its workplace pensions FinTech, Cushon, to Willis Towers Watson to prioritise more stable, capital-light income streams.

Empowering People Group is backed by Limerston Capital and provides HR, legal, and health and safety services. Rena Christou, group chief executive of Empowering People Group, said: “Mentor is a natural and complementary fit – with aligned values, proven track records and a shared commitment to high standards.”

The acquisition allows the group to expand its reach within the SME market by combining enterprise-scale HR capabilities with Mentor's environmental and safety expertise. Limerston Capital previously expanded the group through the acquisitions of firms including Halborns and Learning Nexus.

The sale coincides with a significant expansion of NatWest’s wealth management division, which the bank views as a primary growth engine. Reuters reported that NatWest recently agreed to acquire Evelyn Partners for $3.62 billion, a move that will create the largest bank-owned wealth manager in the country with £127 billion in assets under management.

---