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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Catriona Penny has been appointed to lead Royal Bank of Scotland’s venture banking coverage in Scotland, with a focus on helping high-growth, venture-backed and innovation-led businesses access support as they scale. The appointment was announced at the Female Founders Growth Summit at NatWest Group’s Gogarburn offices in Edinburgh on 1 October 2026.
Who is Catriona Penny?
Penny has more than two decades of financial-services experience in Edinburgh and London, including roles at Lloyds Banking Group and Virgin Money. Before joining Royal Bank of Scotland, she was Virgin Money’s senior director for growth and acquisition finance, working with UK businesses backed by venture capital.
Scottish Financial News described her previous Virgin Money role as focused on lending of up to £10 million. That figure refers to her former work and does not establish Royal Bank of Scotland’s current lending limit or the terms available through its venture banking team. Scottish Financial News calls her new position “Venture Banking Relationship Director”; Dundee and Angus Chamber reports the title as venture banking director.
What will her role cover?
The appointment reports say Penny will work with high-growth, venture-backed, innovation-led and technology-led businesses across Scotland. The stated aim is to help these businesses connect with and attract capital so they can expand and compete internationally.
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The coverage is described as part of a UK-wide venture banking team that combines regional and sector expertise. The reports also point to support from across NatWest Group, including the Royal Bank Accelerator, and partnerships such as Amazon Web Services. They do not specify a particular loan product, eligibility criteria, investment commitment or client portfolio assigned to Penny.
Why is Royal Bank of Scotland expanding venture banking coverage?
NatWest Group’s Head of Venture Banking, Jenny Edwards, said the Scottish presence builds on accelerator and university partnerships and is intended to give founders and investors specialist support. In the appointment coverage, Edwards said: “Establishing dedicated Venture Banking coverage in Scotland builds on the foundations we’ve laid through our accelerator and university partnerships, giving founders and investors specialist support to help promising businesses grow across the region.” Scottish Financial News
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This explains the bank’s stated rationale; the appointment reports do not provide independent evidence of outcomes from the expansion. Penny identified energy transition, life sciences, advanced manufacturing and digital technologies as areas of opportunity in Scotland. She also said that one in five founders in Scotland are female and called for more support for women starting and scaling businesses. The report does not identify the data or methodology behind that figure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How does the appointment relate to other finance support?
Separately, NatWest Group announced in June 2026 that Royal Bank of Scotland was offering lending secured against intellectual property to Scottish creative businesses and university spinouts. That is relevant context for the bank’s innovation-finance activity, but the announcement does not say that the product falls within Penny’s personal remit. NatWest Group’s announcement
The Dundee and Angus Chamber report also attributes a commitment to support 5,000 founders in 2026 to Royal Bank of Scotland. It is an announced target, not a reported achievement, and the appointment coverage does not provide further details on how it will be measured.
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