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Ex-NatWest boss Alison Rose set for £2.4m payout after resigning over Farage row

Dame Alison Rose, who resigned as chief executive of NatWest last month (Dominic Lipinski/PA)
Henry Saker-Clark, PA Deputy Business Editor

NatWest has said former boss Dame Alison Rose is set to receive a £2.4 million pay package, a month after she resigned in disgrace from the banking giant.

The company 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 Nigel Farage’s account.

Ms Rose had led the company for four years as chief executive officer but stepped down on July 25 following the row over the closure of former Ukip leader Mr Farage’s account with Coutts, the private bank run by NatWest.

She resigned after she admitted to being the source of an inaccurate story about Mr Farage’s finances following a discussion with a BBC journalist.

Bank account closures
Ms Rose resigned after she admitted to being the source of an inaccurate story about Nigel Farage’s finances (Gareth Fuller/PA)

Ms Rose is currently seeing out her 12-month notice period with the banking group.

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

The pay deal totals around £2.43 million.

In a statement, the firm added: “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.”

It added that policies allowing the company to potentially “claw back” bonus payments will apply to the former boss.

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