Tim Jones, the Natwest Group officer who co-invented the Mondex smart card system, has been promoted to managing director of retail banking at Natwest UK, the group's London-based banking unit.

Mr. Jones, who stepped down as chief executive of Mondex International when that unit was incorporated in July, will be responsible for Natwest's network of more than 2,000 branches and a work force of 30,000.

Mr. Jones, 41, was expected to get onto the retail organization's fast track after spending most of the last six years on the Mondex project. He most recently was managing director of electronic markets, exploring Internet and other technology opportunities for Natwest UK. That position will now fall under Mr. Jones.

Mr. Jones now reports to senior managing director Tony Warren, the previous retail chief at Natwest UK. Mr. Warren reports to chief executive Martin Gray, who in turn reports to the Natwest Group top management.

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