Ex-NatWest boss Dame Alison Rose who resigned over Nigel Farage row to bank £2.4m

August 23, 2023

NatWest has said former boss Dame Alison Rose, who quit last month over her handling of Nigel Farage's bank account closure, will receive a pay package worth more than £2.4m.

Dame Alison resigned last month, abruptly ending her four-year tenure, amid government pressure on her position.

It followed her admission that she had discussed the former UKIP party leader's bank details with a BBC journalist as Mr Farage complained he was being frozen out of the banking system for his political views.

She suggested his account at the bank's Coutts division had been closed only for commercial, rather than any political, reasons.

Mr Farage had said a subject access request from the NatWest Group had declared his account was "commercially viable".

Her resignation also followed criticism that she had broken the first rule of banking; client confidentiality.

The bank, which gave no details of her remuneration arrangements at the time, said on Wednesday that Dame Alison was seeing out her 12 month notice period as per her contract.

She would receive £1.155m in salary for the year, £1.155m in NatWest shares and pension payments of £115,566.

The share awards are due to vest over a five-year period, the group added.

The chief executive of Coutts, Peter Flavel, also followed Dame Alison out of the door in the wake of the row.

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