NatWest chief executive Alison Rose steps down after Nigel Farage row

NatWest’s Response

After the controversy surrounding Nigel Farage’s bank accounts with Coutts, NatWest CEO Alison Rose faced intense scrutiny and ultimately made the decision to step down from her position.

Initial statement expressing confidence in Alison Rose

Initially, the board of NatWest expressed full confidence in Alison Rose, stating that there would be an independent review into the matter. However, as the situation evolved and more information came to light, a different decision was reached.

The board’s decision for her resignation

Following an emergency board meeting, NatWest announced that Alison Rose would be stepping down as CEO. The bank acknowledged her serious error of judgment in discussing Farage’s relationship with the bank with a BBC journalist. In the wake of her resignation, there were calls for further accountability and for others involved in the matter to step down as well.

These developments highlight the importance of privacy and confidentiality in the banking sector and serve as a reminder for financial institutions to prioritize serving customers well and fairly. NatWest remains a statebacked lender and it is crucial for the entire financial industry to learn from this incident and uphold data protection rights.