Alison Rose steps down as the group chief executive of NatWest Group after discussing Nigel Farage’s relationship with the bank with a journalist, admitting “a serious error of judgment.”
Facts
- Alison Rose has agreed to step down as the group chief executive of NatWest Group immediately.
- Nigel Farage’s account with Coutts, the bank’s private banking business, was closed, leading to a dispute with NatWest Group over the reasons behind it.
- Alison Rose discussed Nigel Farage’s relationship with the bank with a BBC journalist, breaching customer confidentiality and leading to an apology from the broadcaster.
- Farage described Rose’s position as “totally untenable,” demanding her resignation due to the breach of customer confidence.
- The UK government, which owns a 39% stake in NatWest Group, expressed concern over the unfolding situation involving Rose and Farage.
- Rose admitted her mistake in discussing Farage’s relationship with the bank, claiming she believed the information was public knowledge.
- Paul Thwaite has been appointed as the interim CEO of NatWest Group for 12 months, and a further process will take place to find a permanent successor.
