Nigel Farage suggests ex-NatWest boss should be stripped of title

Farage calls payout to Dame Alison Rose as a ‘sick joke’

Nigel Farage has suggested former NatWest boss Dame Alison Rose should be stripped of her title.

The former Ukip and Brexit Party leader made the comment after it emerged she is set to receive a £2.4million pay package a month after she resigned in disgrace from the banking group.

But Mr Farage instead suggested Dame Alison and NatWest chairman Sir Howard Davies, who clung on as NatWest chairman, should lose their honours.

He highlighted how former Royal Bank of Scotland boss Fred Goodwin had his knighthood removed after he was heavily criticised over his role in the bank’s near-collapse in 2008.

Mr Farage said: “Instead of a £2.4m leaving present, I seriously question whether Dame Alison and Sir Howard should keep their titles. Fred the Shred, who was formerly boss of the same banking group, lost his knighthood for less.”

READ MORE: ‘Sick’ £2.4m payout to NatWest boss could be blocked after debanking scandal

Dame Alison stepped down in July following the row over the closure of Mr Farage’s account with Coutts, which is owned by NatWest.

She resigned after admitting to being the source of an inaccurate BBC story suggesting the Brexiteer fell below the wealth limit for the prestigious private bank.

Ms Rose, who was NatWest’s chief executive officer for four years, is currently seeing out her 12-month notice period.

On Wednesday, the company said it will pay her £1.155million in salary for the year, £1.155million in NatWest shares – which she will receive over a five-year period – and £115,566 in pension payments. The pay deal totals around £2.43million.

Ms Rose could also be in line for variable payments, such as performance-related bonuses.

The firm has said it will continue to review her planned pay and bonus payouts in relation to ongoing investigations into her actions surrounding a row over Mr Farage’s account, which was partly shut for political reasons.

The GB News presenter yesterday branded the payout a “sick joke”.

He said: “Surely, you cannot breach client confidentiality, you can’t break virtually every important rule in the FCA (Financial Conduct Authority) code-book and can’t then lie about it after you have briefed the BBC, and still receive a £2.43million payout. Yet, that is exactly what has happened to Alison Rose.”

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