NatWest is considering a move to claw back bonuses from former chief executive Alison Rose who stepped down last month after admitting to a “serious error of judgement” in speaking with the BBC over the Coutts-Nigel Farage scandal.
NatWest and its subsidiary Coutts were drawn into controversy when it emerged that it had closed the accounts of far-right ideologue and broadcaster Nigel Farage. The bank’s handling of the affair led to the resignation of its head figure, and now NatWest is considering its next moves surrounding Rose according to Reuters..
The former chief executive will continue to earn a fixed salary and fixed share awards totalling £2.4 million, along with pension contributions, throughout her 12-month notice period.
A spokesperson for the bank said: "Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay. This is in line with her contractual notice period and remains under continual review, as the independent investigation continues."
An additional statement from NatWest clarified that "no decisions have been made in respect of Ms Rose's share awards or any other remuneration matters."
Paul Thwaite, the new boss of NatWest who took over following Rose’s departure, has been handed a fixed salary of £1.05 million – over £100,000 less than Rose’s package – along with a fixed share allowance of about £1.1 million.
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