NatWest CEO Dame Alison Rose has resigned after admitting her involvement in an inaccurate story regarding Nigel Farage’s finances. The banking group’s chairman, Sir Howard Davies, confirmed the mutual consent decision, expressing sadness as Dame Alison leaves her position after dedicating her entire working life to NatWest. Following her resignation, Dame Alison has been removed from several government roles. In response to her resignation, Nigel Farage called for a “cultural change” at NatWest and within the banking industry, demanding the entire board’s departure.
Dame Alison Rose made history in 2019 as the first woman to lead one of the UK’s four largest banks. Known for her attention to detail, she chose NatWest over Royal Bank of Scotland due to its links to the financial crisis. During her leadership, the government’s stake in RBS Group reduced from 62% to 38.6%. She also transformed NatWest into an environmentally conscious bank, ceasing funding to oil majors without credible climate plans.
Last week, Nigel Farage presented evidence contradicting a BBC News story claiming his account closure at Coutts, owned by NatWest Group, was solely for commercial reasons. Dame Alison admitted to a “serious error of judgment” in discussing Mr. Farage’s relationship with the bank, and an independent review will investigate the circumstances.
