Natwest CEO resigns after admitting to ‘serious error’ in Farage row

natwest-ceo-resigns-after-admitting-to-‘serious-error’-in-farage-row
Natwest CEO resigns after admitting to ‘serious error’ in Farage row

NatWest CEO Alison Rose has resigned immediately after admitting to discussing Nigel Farage’s relationship with the bank with a BBC journalist. The head of the bank’s commercial and institutional business, Paul Thwaite, will take over as CEO for the next 12 months. NatWest has faced scrutiny over the closure of Farage’s accounts by its private bank Coutts, with an internal review revealing that his values did not align with the bank’s. Farage called for more resignations in response to Rose stepping down. Rose had a 30-year career at NatWest and was made a Dame for her services to the financial sector. She confirmed that she had discussed Farage’s relationship with the bank with the BBC, leading to her resignation. NatWest Chairman Howard Davies initially expressed confidence in Rose but later announced her resignation after an emergency board meeting. The UK Treasury has not yet commented on Rose’s resignation. The BBC has apologized to Farage for an incomplete and inaccurate story about the closure of his accounts. Rose clarified that she did not disclose any personal financial information about Farage and was not involved in the decision to close his accounts. The Financial Conduct Authority has called for a review of the matter, and the financial services minister is set to meet with lenders to discuss concerns about account closures based on political views.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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