NatWest CEO : Alison Rose, CEO of NatWest, one of the UK’s biggest banks, resigned in London. She resigned after admitting to disclosing Nigel Farage’s sensitive financial details to BBC News.
Ms. Rose released a statement admitting her “serious error of judgment” in exposing Mr. Farage’s bank ties. The late-Tuesday disclosure shook financial and political markets.
Last month, GB News broadcaster and Brexit campaigner Nigel Farage revealed that a major UK bank had cancelled his client status.
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The UK media then identified the bank as Coutts, a prominent NatWest-owne wealthy bank. Mr. Farage publicly believed that his political opinions influenced Coutts’ decision to terminate his account.
A senior bank source told the BBC that Farage’s accounts were closed for business reasons. However, Farage obtained the bank’s internal report, which looked to support his assertion that his political views affected the decision.
Tuesday night revealed the reality. Alison Rose apologized and expressed sorry for being the BBC report’s source. She admitted that she mishandled BBC inquiries about the situation.
She apologized to Mr. Farage for hurting him personally. She also apologized to him.
After the dust settles, the renowned CEO will step down, allowing NatWest’s commercial and institutional business CEO,
Paul Thwaite, to take over until a permanent successor is found.
The UK government owns 39% of NatWest, adding to the turmoil.
Our Reader’s Queries
What happened to NatWest CEO?
NatWest’s CEO has resigned following an admission of a “serious error” regarding the leak of information about Nigel Farage. Alison Rose, the chief executive of NatWest, was seen leaving 10 Downing Street in London after meeting with Chancellor Jeremy Hunt.
How much does the CEO of NatWest bank earn?
NatWest Group’s CEO has been awarded £5.25 million in compensation for 2022, coinciding with the bank’s impressive profits of £5.1 billion – the highest since the financial crisis. The bank’s attributable profit also saw a significant increase, rising from £3bn to £3.3bn for the year ended 31 December 2022.
Who is the CEO of NatWest Group?
Paul, the Group CEO of NatWest, has a wealth of experience leading the Commercial & Institutional franchise and Payments business. He joined the company in July 2023 and has since brought a strong customer focus to the Board. With expertise in balance sheet management, transformation, and risk and controls, Paul is a valuable asset to the team.
What does Alison Rose earn?
In 2022, Rose was among the top earners in the UK financial industry, receiving a whopping £5.3 million as per the lender’s annual report. This included a fixed pay of £2.4 million, a bonus of approximately £643,000, and long-term awards from 2020 that vested, paying her £2.2 million. Her exceptional performance and contribution to the industry have earned her this well-deserved recognition.