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NatWest boss Dame Alison Rose quits after Nigel Farage bank account leak

Information supposedly about Nigel Farage's bank account was leaked to the BBC.NatWest boss Dame Alison Rose has quit the banking giant after admitting being the source of an inaccurate BBC story about Nigel Farage's finances.

Dame Alison had earlier admitted she made a "serious error of judgement" when discussing Farage's relationship with private bank Coutts, which is owned by NatWest Group, with a BBC journalist. However, NatWest chairman Sir Howard Davies had said she had the "full confidence" of the board.

But that apperars to have changed after Chancellor Jeremy Hunt expressed "serious concerns" over Dame Alison's conduct. It came after she met Hunt as well as Downing Street officials.

Now, in the early hours of Wednesday, Sir Howard issued a statement saying the chief executive had left her position. He said: "The Board and Alison Rose have agreed, by mutual consent, that she will step down as CEO of the NatWest Group.

https://www.express.co.uk/news/politics/1795183/NatWest-boss-Dame-Alison-Rose-quits

Score one to Nigel but he's after the whole board. He might nail them too  :grin:

Another example of Go woke Go Broke. Is the kickback starting?

The smug bitch should to lose her peerage as well & face a prosecution under the data protection laws.

Anyone who thinks about crossing the bloke who wiped the floor with the EU political machine must be plain stupid.

I bet she's got a bliddy good pension !

Nigel Farage says Alison Rose's resignation is a 'start' – but 'whole board needs to go'

Nigel Farage said Dame Alison Rose's resignation as the CEO of NatWest "had to happen".

Nigel Farage has said the resignation of NatWest CEO Dame Alison Rose is a "start", but added the entire board must quit too after publicising their "untrue" statement of support for her just hours earlier.

On his GB News show last night, Mr Farage demanded that Alison Rose, Peter Flavel and Howard Davies must all quit their roles in the Coutts scandal.

This morning he goes further, saying all members of the NatWest board "backed that statement that was put out at 17.42 yesterday".

He added: "Anybody that backed that behaviour, should be gone."

The statement said the Board had "full confidence in Ms Rose as CEO of the bank".

However, hours later they reconvened after it emerged Jeremy Hunt himself had "significant concerns" about her remaining in post.

The NatWest statement yesterday afternoon said Dame Alison: "Has proved, over the last four years to be an outstanding leader of the institution, as demonstrated by our results.

"The Board, therefore, believes it is clearly in the interest of all the bank's shareholders and customers that she continues in post."

The swift resignation of Dame Alison just hours later, however, has led to Mr Farage calling the statement "totally unsustainable and untrue".

https://www.express.co.uk/news/politics/1795195/Nigel-Farage-reaction-Alison-Rose-resignation

:grin: :grin: :grin: Go for it Nigel. Make the buggers pay. Hope he sues them too.


July 26, 2023, 09:02:16 AM

Quote from: Alex on July 26, 2023, 08:50:48 AMI bet she's got a bliddy good pension !

Might even be better than Brian's

I worked for a bank for 19 years and I still wouldn't break a confidence about a customer.  Confidentiality is ingrained in staff.

Good riddance, at her level how could she be so arrogant as to discuss a clients financial affair with a BBC person, think that was OK and she could get away with it? 

Client confidentiality is a basic in any organisation that holds your data and personal information, the woman needs to go back to the shop floor and learn from those who she probably considers beneath her.

To think she was also Snakey Sunack's advisor, no wonder we have such a useless government. 

Quote from: Jacqueline on July 26, 2023, 11:00:48 AMGood riddance, at her level how could she be so arrogant as to discuss a clients financial affair with a BBC person, think that was OK and she could get away with it?

Client confidentiality is a basic in any organisation that holds your data and personal information, the woman needs to go back to the shop floor and learn from those who she probably considers beneath her.

To think she was also Snakey Sunack's advisor, no wonder we have such a useless government.

I agree.  She deserves what she gets, and the rest of them involved do too.

Next, I'd like to see some scalps being taken at the biased BBC as well.  The best thing that could happen is that a future government (if we are lucky enough to get one which works) will get rid of the compulsory TV licence.  The BBC should be forced to compete with all the other stations, and also stop paying ridiculous fees to some of their presenters.

IMO, The banks get away with far too much, :nooo: I'm glad she's out and I agree that the rest should follow. Other banks should take heed. :waiting:  The public are starting to argue back, we have had enough of their nonsense. They are there to serve us NOT tell us what we can and can't do. :sad:

totally agree - disgraceful woman

It just keeps getting better....

NatWest plummets to bottom of FTSE 100 with £850m wiped off value after Nigel Farage row

NatWest has seen £850million wiped off its value since Nigel Farage called for the whole board to go.

NatWest - the high street bank embroiled in the Nigel Farage "debanking" scandal - is reeling today after its chief executive quit in the early hours of Wednesday morning, having released a statement on Tuesday night in a vain attempt to hang on to her lucrative post. Now the bank's shares have plummeted three percent, knocking hundreds of millions of pounds off the value of the company.

Dame Alison Rose and the NatWest board agreed to her departure "by mutual consent" this morning, however, Mr Farage has called for the whole board to lose their jobs over the scandal.

Dame Alison's resignation came following an astounding intervention by the Chancellor and the PM, who expressed "significant concerns" about the behaviour of the bank, 38.6 percent owned by the taxpayer.

This comes as Andrew Griffith, the City minister, warned other banks about "woke" culture at a virtual summit. Each of them has signed up to "non-discrimination based on lawful freedom of expression".

https://www.express.co.uk/news/politics/1795416/natwest-share-price-ftse100

Paraphrasing what I read or heard elsewhere about a comment in the NatWest document on Farage that he may try to use his position to attack the  bank - they must have been mad to try to take on the bloke who cooked the EU goose

July 26, 2023, 04:04:06 PM
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Humiliated Alison Rose sacked from two major Downing Street roles

Humiliated Alison Rose sacked from two major Downing Street roles
Dame Alison Rose has been sacked from two key advisory roles in Government following her overnight resignation from NatWest.

The now-former CEO of NatWest has suffered yet more career setbacks this morning, as the Government confirms she's been ditched as a top advisor.

Dame Alison Rose had been appointed to an Energy Efficiency Taskforce within the Net Zero department in February and as a member of the PM's Business Council just last week.

The Express understands she's now been let go from both positions.

A No. 10 spokesperson said: "Following her resignation as CEO of NatWest Group, the Government has confirmed that Dame Alison Rose is no longer a member of the Prime Minister's Business Council."

Separately, a spokesperson for the Department for Net Zero has told the Express: "Following the news overnight, the Secretary of State has asked Dame Alison Rose to step down from her roles as co-chair of the Energy Efficiency Taskforce and as a Member of the Net Zero Council and she has resigned".

https://www.express.co.uk/news/politics/1795274/Alison-Rose-step-down-Government-jobs

(https://i.postimg.cc/Vs4pHF09/elephant20shit1.jpg) (https://postimages.org/)

Sometimes, very rarely these days there is real justice.

It amazes me how people in high powered jobs, after making a big cock- up, can resign.. Some walk away with big pay-offs and equally big pensions as if they did a superb job whilst at their post.
This applies to those in government too.. 
It matters not to them.. they just retire early.. 
And are replaced by another who can go on to continue the cock-ups..

Quote from: klondike on July 26, 2023, 03:57:13 PMIt just keeps getting better....

NatWest plummets to bottom of FTSE 100 with £850m wiped off value after Nigel Farage row

(https://cdn.images.express.co.uk/img/dynamic/139/590x/secondary/4876633.avif?r=1690377704539)

NatWest has seen £850million wiped off its value since Nigel Farage called for the whole board to go.



(https://i.postimg.cc/Vs4pHF09/elephant20shit1.jpg) (https://postimages.org/)

Wonderful news.  Well deserved!

Now I want to know which the other banks are.

Just wondering if I need to take my money out of NatWest.. should they go under..  :grin:

You can safely leave your first £85,000 with them as it is covered by the government banking guarantee. Just make sure the rest goes to other organisations to a maximum £85,000 each but I expect you've done that already.

Quote from: Scrumpy on July 26, 2023, 06:48:24 PMIt amazes me how people in high powered jobs, after making a big cock- up, can resign.. Some walk away with big pay-offs and equally big pensions as if they did a superb job whilst at their post.
This applies to those in government too..
It matters not to them.. they just retire early..
And are replaced by another who can go on to continue the cock-ups..

Meanwhile, the average Joe gets sacked for some small mistake.

Quote from: klondike on July 26, 2023, 07:33:39 PMYou can safely leave your first £85,000 with them as it is covered by the government banking guarantee. Just make sure the rest goes to other organisations to a maximum £85,000 each but I expect you've done that already.

Sorted.. :grin: :grin:

The CEO of Coutts, Peter Flavel, has gone.

https://tinyurl.com/36ybaecu

two down, how many to go?

Farage wanted the whole board but I suspect that won't happen.
There is one more NatWest head honcho apparently. Maybe it will be three maybe not but I can't see it realistically being more.
 
A woman I recognise as a BBC News presenter, Emily Maitlis, but who is reported as ex-BBC is bad mouthing Farage suggesting he is making one hell of a fuss over nothing. I wonder what her attitude would have been had they closed her mate Hew Edward's account so he couldn't carry on hiring rent boys.

I see that the waste-of space Alison Rose will get a £multi-million pay-off.

She shouldn't have been allowed to resign, she should have been sacked for gross misconduct & forfeited her pension rights.

Certainly she should have been sacked and get no severance pay but I'm pretty much certain that her pension will be a pot in her name that has been built up over the years and it wouldn't be possible to claw it back.

Quote from: klondike on July 27, 2023, 07:12:39 PMCertainly she should have been sacked and get no severance pay but I'm pretty much certain that her pension will be a pot in her name that has been built up over the years and it wouldn't be possible to claw it back.

I was a Civil Servant & I could have forfeited my pension for gross misconduct. 

Nearly a Billion down on the share pice in a week.

Latest exciting results for the 'Dame'

Historical daily share price chart and data for NatWest Group since 2007 adjusted for splits and dividends.

The latest closing stock price for NatWest Group as of July 26, 2023 is 6.36.

The all-time high NatWest Group stock closing price was 97.51 on October 31, 2007 (prior to the 'Sub Prime' whizz bang crash).

Labour's Rachel Reeves thinks her performance since her appt in September 2019 was very good and that she was bullied by Tory Ministers etc etc etc. 'Bullied', a self confessed corporate liar, well done Rachel, I really look forward to watching the UK economy soar under your wisdom of choice to get the right people in the top places!

"Bullied", the new word for being told off for gross misconduct.

I still say she should be prosecuted under the data protection legislation.

Quote from: Diasi on July 27, 2023, 07:19:35 PMI was a Civil Servant & I could have forfeited my pension for gross misconduct.

She wasn't though. It all depends on the terms. I doubt that civil service pensions involve any pot building any more than old age pension does and private pensions would have to.

I bet if Sheila when working at her bank had divulged personal details to someone outside the bank, she would have been dismissed and no lump sum or pension. 

I can't believe this woman is being given 4 million for making a cock up !

Quote from: klondike on July 27, 2023, 07:46:14 PMShe wasn't though. It all depends on the terms. I doubt that civil service pensions involve any pot building any more than old age pension does and private pensions would have to.

Of course I built up a pension pot, I wasn't given it for nowt.

Our pay rises were decided by a review body & the Civil Service then reduced the pay award by 6% to cover the pension contribution.

By doing it that way it saved the administrative expense of paying the full award & then taking the 6% pension payment back.

Also police officers can lose their pension rights under some circumstances.

She isn't a police officer either. I doubt that in the private sector being sacked can remove pension rights.

Quote from: klondike on July 27, 2023, 08:09:26 PMShe isn't a police officer either. I doubt that in the private sector being sacked can remove pension rights.

So it shows that private pensions are better than the public pensions if you can commit gross misconduct & still get your pension.

However, in this case the taxpayer owns 38% of Nat West & will be paying 38% of her Nat West pension.

I'm not saying she should lose any pension pot other than what she accrued with Nat West.

What anybody thinks is irrelevant. If the rules permit the pension to be forfeit on dismissal for gross misconduct then it should be forfeit. I suspect there is no such rule though. From what I read she has spent her entire working life with NatWest so there is no other pension.

Whatever pension she gets has already been paid into a pension pot. We won't be paying any more other than state pension once she is eligible for that.

There's now a public outcry about her £5 million pay-off &, as I said I felt yesterday, there's considerable anger, including among financial commentators, that she was allowed to resign & wasn't sacked.

It's a shareholder meeting today. Perhaps they'll demand she be dismissed instead. She certainly should have been.

The public outcry will help but the public, as always, have no power other than to vote with their feet and move their accounts away from the NatWest group and make a public fuss. Considering the way the share price has tanked this probably isn't a good time to sell - that would have been earlier.

Quote from: klondike on July 28, 2023, 09:05:42 AMIt's a shareholder meeting today. Perhaps they'll demand she be dismissed instead. She certainly should have been.

The public outcry will help but the public, as always, have no power other than to vote with their feet and move their accounts away from the NatWest group and make a public fuss. Considering the way the share price has tanked this probably isn't a good time to sell - that would have been earlier.

I would hope the fact the the UK taxpayers are the largest shareholder, at 38% ownership, would give some clout to the views of the public who are the UK taxpayers & therefore the shareholders.

I could well be posting another rendition of Queen later today.

You appear to be under the misapprehension that the government give a flying fig what the public think on something that will be largely forgotten by the time the election comes. More specifically what the little people think.

Quote from: klondike on July 28, 2023, 09:05:42 AMIt's a shareholder meeting today. Perhaps they'll demand she be dismissed instead. She certainly should have been.

The public outcry will help but the public, as always, have no power other than to vote with their feet and move their accounts away from the NatWest group and make a public fuss. Considering the way the share price has tanked this probably isn't a good time to sell - that would have been earlier.

The new head of the board has stated quite clearly that he has no intentions of resigning (Telegraph today).

Perhaps as more and more people continue to withdraw their money from NatWest and Coutts, they might think again.

Are people actually withdrawing their millions from Coutts ?

I doubt it. Swapping bank accounts these days is supposedly painless but I doubt that it is trusted by most. Too much hassle on a point of principal. You can get a couple of hundred quid or more to switch but most don't. I don't for one. I did open an additional account but the one that accepts all my money in and pays my DDs is still the old one.

Quote from: klondike on July 28, 2023, 10:37:52 AMYou appear to be under the misapprehension that the government give a flying fig what the public think on something that will be largely forgotten by the time the election comes. More specifically what the little people think.

It all depends on the swell of media attention against them.

I reckon there probably won't be more resignations and it will quieten down.

It amused me to read that a political party set up by Gina Miller was debanked but that was largely her own fault. The bank she was with will not accept accounts with any political party and she apparently hadn't declared it as being one. I think I read that Reclaim was having problems finding a banker.

The remainer woke establishment elite, have a lot to answer too. The hugely overdue decision to offer Nigel Farage his banking facilities back demonstrates the level of control the 'Stasi' currently have. They just couldn't, until two of them had walked the plank to un-damageable wealth bring themselves to adhere the first principal of a mistake - leave e victim unaltered. I believe a full 'Royal Commission should be ordered against the FCA, but could probably give you the sane result now! The whole system is either gangrenous or at least green with exposure to such toxic ideal.