NatWest Chief Executive resigns over Farage's account closure

NatWest’s Chief Executive resigns following the news of Nigel Farage’s bank account closure.

Dame Alison Rose has resigned after four years as Chief Executive of NatWest after admitting to sharing inaccurate information about the story of Farage’s bank account closure with a BBC journalist.

After reports of other businesses having their accounts withheld or withdrawn, without explanation, 19 bank chiefs have been called to a Treasury summit today to discuss ‘de-banking’, and freedom of expression.

A spokesperson from Number 10 has said that Dame Alison has “done the right thing” by resigning. They said, “Everyone would expect people in public life – whether that’s in a business leadership role or otherwise – to act responsibly and with integrity.”

It was first thought – as reported by the BBC – that the account had been closed due to Farage not meeting the financial thresholds in which to hold a Coutts account.

It was later discovered, through the documents obtained by Farage himself, that the decision was instead formed by his political beliefs and his personal connections.

Nigel Farage has said that the row has “absorbed my life for many months”, and he’s been “approached by literally thousands of people all over this country that have been unfairly closed down by NatWest”. He thinks the whole Board at NatWest should follow Dame Alison and resign.

He claims he has not been able to open another account, with 10 banks denying him business.

Briefings from Downing Street show that Dame Alison had lost the confidence of the Prime Minister and the Chancellor and that the resignation had been expected.

Sir Howard Davies, Chairman of the NatWest group has continued to endorse Dame Alison. He says that it was a “sad moment”, and she has “dedicated all her working life so far to NatWest.”

In her resignation statement, Dame Alison said “I remain immensely proud of the progress the bank has made in supporting people, families, and business across the UK, and building the foundations for sustainable growth.

“My NatWest colleagues are central to that success, and so I would like to personally thank them for all that they have done.”