NatWest boss receives £2.4 million pay package after Farage dispute

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【Summary】Former NatWest boss, Dame Alison Rose, who resigned after her involvement in a misleading story about Nigel Farage's bank account, is set to receive a £2.4 million pay package this year. The story had prompted calls for changes in laws to prevent banks from shutting people out based on their personal views. NatWest stated that Dame Alison is serving a 12-month notice period and her payments will be reviewed based on ongoing internal and external investigations. Mr.

FutureCar Staff Aug 23, 2023 7:24 AM PT

NatWest boss receives £2.4 million pay package after Farage dispute

Dame Alison Rose, the former boss of NatWest, who resigned amid controversy surrounding Nigel Farage's bank account, is set to receive a £2.4 million pay package this year, according to reports. Her departure came after she admitted to being the source of a misleading BBC story claiming that Farage's account at Coutts had been closed due to insufficient funds. However, Farage later revealed documents from the private bank that suggested the account was actually closed because his public statements did not align with its values.

This story sparked calls from politicians to change the law to prevent banks from excluding individuals based on their personal views. NatWest stated that Dame Alison is currently serving a 12-month notice period as per her contract. Sky News reported that she will receive £1.155 million in salary, £1.155 million in NatWest shares, and pension payments of £115,566.

Expressing his dissatisfaction, Farage took to X (formerly known as Twitter) and referred to the payout as a "sick joke." He added, "This is the corrupt British establishment looking after its own." In response, the banking group stated that Ms. Rose's notice period and payments would be continuously reviewed in light of internal and external investigations regarding the account closure at Coutts and associated events. The decisions on these awards, as well as other remuneration matters, will be made based on the findings of the investigations.

According to a report from the Mail Online, the bank's dossier on Farage cited his retweet of a Ricky Gervais joke about trans women and his friendship with tennis player Novak Djokovic, who opposed being vaccinated against Covid, as reasons for flagging concerns of xenophobia and racism. Farage expressed his fear that the UK is heading towards a "Chinese-style social credit system" where only those with "acceptable views" are allowed to participate in society.

Following the revelations, Coutts Chief Executive Peter Flavel announced that he would also be stepping down. The BBC issued an apology to Farage, acknowledging that the information they reported "turned out not to be accurate." For any inquiries, please contact our news team at [email protected].

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