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The Telegraph
The Telegraph
28 Jul 2023


Senior bosses at NatWest will face scrutiny from shareholders following the dramatic fallout in the row sparked by the closure of the Coutts bank account belonging to Nigel Farage.

The scandal culminated this week in the resignation of NatWest’s chief executive Dame Alison Rose and the boss of Coutts, which is owned by the banking group.

NatWest will follow rivals in unveiling its half-year financial results at 7am.

But the earnings report comes at a time of volatility for the bank with the two bosses resigning and the group’s board facing pressure to explain the events leading up to the fallout.

Dame Alison had admitted a “serious error of judgement” by discussing with a BBC journalist Mr Farage’s relationship with Coutts.

She said she did not disclose any personal financial information but was “wrong to respond to any question raised by the BBC about this case”.

But her resignation came hours after the board said it had full confidence in Dame Alison as chief executive, meaning the bank was forced to backpedal after the statement was given.

Meanwhile, Coutts’ chief executive Peter Flavel stepped down on Thursday after admitting the high-net-worth bank had “fallen below the bank’s high standards of personal service”.

Read the latest updates below.