THE GUARDIAN: Ousting of boss of private bank may not be last departure as prime minister fails to back chairman Howard Davies
The head of private bank Coutts has been ousted over the closure of Nigel Farage’s bank accounts in a desperate attempt by NatWest to contain a crisis that has wiped £1bn off its share price.
Peter Flavel’s resignation from Coutts was pushed through by the NatWest interim chief executive, Paul Thwaite, but despite the move, the future of its chairman, Sir Howard Davies, appeared far from secure.
The prime minister pointedly failed to back Davies, despite concern over the government’s role in the shock departure of the chief executive, Alison Rose, which was announced in the middle of the night earlier this week. While the City minister, Andrew Griffith, said in an interview with Sky News on Wednesday that it was not necessary for Davies to quit earlier than planned, Rishi Sunak refused on Thursday to give the chairman his backing. » | Kalyeena Makortoff and Anna Isaac | Thursday, July 27, 2023
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Showing posts with label Coutts. Show all posts
Showing posts with label Coutts. Show all posts
Thursday, July 27, 2023
Coutts Chief Steps Down over Nigel Farage De-banking Scandal
THE TELEGRAPH: Lender’s treatment of Farage has ‘fallen below high standards of personal service’
Peter Flavel’s exit comes less than two days after Alison Rose stepped down as NatWest chief executive | CREDIT: Peter Nicholls/Reuters
The chief executive of Coutts has resigned with immediate effect over the private bank’s mishandling of Nigel Farage’s account.
Peter Flavel, who became boss of Coutts in 2016, said the treatment of Mr Farage had “fallen below the bank’s high standards of personal service”.
Paul Thwaite, the interim chief executive of NatWest, which owns Coutts, said: “I have agreed with Peter Flavel that he will step down as Coutts CEO and CEO of our Wealth Businesses by mutual consent with immediate effect.
“Whilst I will be personally sorry to lose Peter as a colleague, I believe this is the right decision for Coutts and the wider group.” » | Simon Foy | Thursday, July 27, 2023
The chief executive of Coutts has resigned with immediate effect over the private bank’s mishandling of Nigel Farage’s account.
Peter Flavel, who became boss of Coutts in 2016, said the treatment of Mr Farage had “fallen below the bank’s high standards of personal service”.
Paul Thwaite, the interim chief executive of NatWest, which owns Coutts, said: “I have agreed with Peter Flavel that he will step down as Coutts CEO and CEO of our Wealth Businesses by mutual consent with immediate effect.
“Whilst I will be personally sorry to lose Peter as a colleague, I believe this is the right decision for Coutts and the wider group.” » | Simon Foy | Thursday, July 27, 2023
Wednesday, July 26, 2023
NatWest Boss Alison Rose Resigns over Nigel Farage Coutts Account Row
THE GUARDIAN: Former Ukip leader obtained report suggesting media coverage of his political views was considered in Coutts closure decision,br />
NatWest chief Alison Rose has stood down from the bank. Last week she apologised for ‘deeply inappropriate comments’ about Nigel Farage in an internal report. Photograph: Carl Court/Getty Images
Dame Alison Rose, the chief executive of NatWest Group, has stood down after a row over the closure of Nigel Farage’s bank account with the private bank Coutts, which NatWest owns.
Rose has resigned from the banking group after the former UK Independence party leader complained to the BBC about a report that claimed his accounts with Coutts were closed for commercial reasons. The broadcaster has since apologised and amended its story.
Farage said Rose’s exit was “a start” but called for the whole Natwest board to go. He told GB News that the resignation “had to happen”, adding: “The first rule of banking is you have to respect the privacy of the customer.”
The Ukip leader told BBC Radio 4’s Today programme the entire board ought to quit because it had approved a statement from Rose earlier on Tuesday in which she said she had not revealed “any personal financial information”. » | Anna Isaac and Kalyeena Makortoff | Wednesday, July 26, 2023
Who is Alison Rose, the NatWest CEO forced to quit over Nigel Farage row?: The rise and fall of the group’s first female boss, who took up the role in 2019 »
NatWest boss quits after Nigel Farage leak admission: Chairman calls Dame Alison Rose's resignation a 'sad moment' as board confirms Paul Thwaite will take over temporarily pending approval »
Dame Alison Rose, the chief executive of NatWest Group, has stood down after a row over the closure of Nigel Farage’s bank account with the private bank Coutts, which NatWest owns.
Rose has resigned from the banking group after the former UK Independence party leader complained to the BBC about a report that claimed his accounts with Coutts were closed for commercial reasons. The broadcaster has since apologised and amended its story.
Farage said Rose’s exit was “a start” but called for the whole Natwest board to go. He told GB News that the resignation “had to happen”, adding: “The first rule of banking is you have to respect the privacy of the customer.”
The Ukip leader told BBC Radio 4’s Today programme the entire board ought to quit because it had approved a statement from Rose earlier on Tuesday in which she said she had not revealed “any personal financial information”. » | Anna Isaac and Kalyeena Makortoff | Wednesday, July 26, 2023
Who is Alison Rose, the NatWest CEO forced to quit over Nigel Farage row?: The rise and fall of the group’s first female boss, who took up the role in 2019 »
NatWest boss quits after Nigel Farage leak admission: Chairman calls Dame Alison Rose's resignation a 'sad moment' as board confirms Paul Thwaite will take over temporarily pending approval »
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