NatWest Group CEO Alison Rose has resigned following the controversy surrounding the termination of Nigel Farage’s bank account by sister lender Coutts. Rose admitted to discussing the details of Farage’s account with a BBC reporter, which resulted in a controversial story. Initially, the board showed support for Rose, but she announced her immediate departure by mutual consent. NatWest is 39% owned by the British taxpayer, increasing public interest in the situation. Farage claimed that his account was terminated due to his political views, but critics argue that the decision was primarily based on commercial reasons. The Wealth Reputational Risk Committee at Coutts stated that Farage’s account did not meet its commercial criteria and recommended exiting the relationship. Farage’s politically exposed person (PEP) status was downgraded, and Coutts cited the misalignment of his values with the bank’s as a reason for terminating the account. Farage called for the resignation of the NatWest Group executive board and a regulatory overhaul of the banking sector. The Financial Conduct Authority has raised concerns and NatWest has launched an independent review of the events.
NatWest CEO Alison Rose steps down amid media controversy
Denial of responsibility! Swift Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – swifttelecast.com. The content will be deleted within 24 hours.