NatWest gives disgraced ex-boss Dame Alison Rose £2.4 MILLION final payment despite Farage banking scandal

NatWest cash machine and Alison Rose

She will receive £1.115million in shares alongside her salary

Holly Bishop

By Holly Bishop

Published: 23/08/2023

- 12:15

Updated: 23/08/2023

- 15:03

Nigel Farage labelled the pay-out a 'sick sick joke'

NatWest's former boss, Dame Allison Rose, will receive a pay package of over £2.4 million after resigning last month because of the Nigel Farage banking scandal.

Rose left the company last month and but is seeing out her 12-month notice period.

NatWest has announced that on top of her £1.115million salary, she will receive £1.115million in shares from the bank.

Farage, whose personal finances were disclosed by Rose, labelled the pay package a "sick sick joke" to GB News.

Alison Rose

Rose resigned after admitting to speaking with a BBC journalist about Farage's finances


He added: "When I heard the news I thought perhaps it was a sick joke. Surely you cannot breach client confidentiality, you cant break every rule in the FCA codebook and you can’t then lie about it after you briefed the BBC and still receive a £2.4million pay-out and yet that is exactly what’s happened to Alison Rose."

Rose resigned on July 25 after she released an inaccurate story about Farage's finances.

She held the title of Chief Executive for four years before her resignation.

Rose admitted to a "serious error in judgement" when she disclosed details about the GB News presenter's finances to a BBC journalist.

The Dame discussed Farage's the finances in his Coutts account, NatWest's private bank.

Top political figures including Jeremy Hunt were said to have "serious doubts" about her behaviour.​

Her resignation was agreed upon by NatWest Group chairman Sir Howard Davies, who said that the decision was made "by mutual consent".

Rose is currently serving out her notice period, which lasts for 12 months.

Alongside her £1.115million salary, she will receive over £1.155million in NatWest shares over a five-year period.

The former chief exec will also receive £115,566 in pension payments.

Nigel Farage

GB News' presenter Nigel Farage was debanked by Coutts, NatWest's private bank

GB News

In a statement, the firm said: “Ms Rose’s notice period and the payments she will continue to receive for the notice period will be reviewed on a continuing basis, having regard to the internal and external investigations relating to the account closure arrangements at Coutts and associated events.

“Decisions on these awards, along with any decisions regarding other remuneration matters, will be made taking into account the findings of the investigations, as appropriate."

A spokesperson for the bank said they had yet to make any decisions on Rose's remuneration and won't until the findings from investigations have been revealed.

“Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay. This in line with her contractual notice period and remains under continual review, as the independent investigation continues. As previously confirmed, no decision on her remuneration will be taken until the relevant investigations are complete.”

Farage expressed doubts to GB News about the validity of the findings of their investigation.

He praised the actions of Andrew Griffiths and Jeremy Hunt for progressing the matter in Government, and was hopeful that a solution would be reached soon.

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