Coutts: NatWest refuses to sack CEO as she FINALLY admits Farage leak to BBC
GB News
The BBC issued an apology to Nigel Farage for its inaccurate reporting of events
The CEO of NatWest has admitted she "made a serious error of judgment" when she leaked private banking information about Nigel Farage to the BBC - but refuses to step down.
It comes after the BBC apologised to the GB News presenter after the broadcaster was forced to amend a story based on information from a "trusted and senior" source which turned out to be "incomplete and inaccurate".
In a statement, Alison Rose, CEO of the NatWest Group said she "was wrong to respond to any question raised by the BBC about this case".
The board have issued a "further apology" to Farage and said Rose "should not have spoken in the way she did".
The board have issued a 'further apology' to Farage and said Rose 'should not have spoken in the way she did'
PAThe BBC's report was published just one day after business editor Simon Jack sat with NatWest chief Rose at a charity dinner.
Farage’s account with Coutts had been closed earlier this month after the bank said they no longer wanted him as a customer.
Howard Davies, Chairman of the NatWest Group said while Rose’s conversation with Jack was "a regrettable error of judgement on her part", after "careful reflection the Board has concluded that it retains full confidence in Ms Rose as CEO of the bank".
He said: "She has proved, over the last 4 years to be an outstanding leader of the institution, as demonstrated by our results. The Board therefore believes it is clearly in the interest of all the bank’s shareholders and customers that she continues in post.
"The Board is clear that the overall handling of the circumstances surrounding Mr Farage accounts has been unsatisfactory, with serious consequences for the bank. The Board will commission an independent review into the account closure arrangement at Coutts, and the lessons to be learnt from this.
"The findings of that review will be made public on completion. The Terms of Reference and lead firm will be announced shortly."
Rose said she believed it was public knowledge that Farage was a Coutts customer and had been offered a NatWest account.
In a statement, she said: "Believing it was public knowledge, I confirmed that Mr Farage was a Coutts customer and that he had been offered a NatWest bank account. Alongside this, I repeated what Mr Farage had already stated, that the bank saw this as a commercial decision.
"I would like to emphasise that in responding to Mr Jack’s questions I did not reveal any personal financial information about Mr Farage.
"In response to a general question about eligibility criteria required to bank with Coutts and NatWest I said that guidance on both was publicly available on their websites. In doing so, I recognise that I left Mr Jack with the impression that the decision to close Mr Farage’s accounts was solely a commercial one."
In a statement, Alison Rose, CEO of the NatWest Group said she 'was wrong to respond to any question raised by the BBC about this case'
PA
A 40-page dossier shows Coutts chiefs made a concerted effort to “exit” him as a customer as they didn’t believe the former Ukip leader aligned with their views.
Rose added that she was not part of the decision making process to exit Farage and at the time while speaking to Jack, had not seen the Coutts Wealth Reputational Risk Committee materials.
She said: "I have apologised to Mr Farage for the deeply inappropriate language contained in those papers and the Board has commissioned a full independent review into the decision and process to ensure that this cannot happen again.
"Put simply, I was wrong to respond to any question raised by the BBC about this case. I want to extend my sincere apologies to Mr Farage for the personal hurt this has caused him and I have written to him today.
"I would like to say sorry to the Board and my colleagues. I started my career working for National Westminster Bank. It is an institution I care about enormously and have always been proud to be a part of.
"It has been the privilege of my career to lead the bank and I am grateful to the Board for entrusting me with this role. It is therefore all the more regrettable that my actions have compounded an already difficult issue for the Group."