Debanked: Nigel Farage triggered a furore after his Coutts account was shut
Former NatWest boss Dame Alison Rose broke data protection laws when she discussed the closure of Nigel Farage’s account with a journalist, a watchdog has found.
The Information Commissioner’s Office (ICO) ruled the executive, who was forced to quit amid the de-banking scandal, inappropriately shared the former UKIP leader’s personal data in an inaccurate way.
She resigned after admitting to inaccurately telling a BBC reporter Farage’s account closure was due to a lack of funds rather than his opinions.
The ICO said: ‘These actions were unacceptable and should not happen again. However, in view of the fact that the individual in question resigned and the bank has commissioned its own investigation, we do not intend to take any further regulatory action.’
The ruling said Rose should not have told a reporter that Farage was a customer of Coutts, the elite private bank owned by NatWest.
The former politician’s rights were also infringed as the information she gave to the BBC journalist was incorrect.
Alison Rose is said to be considering legal action if the bank slashes her payout by £5m
Rose is said to be considering legal action if the bank slashes her payout by £5m.
She has been receiving her £2.4m pay package while on gardening leave, but the board could cancel about £5.2m worth of her unvested shares – stock set aside for an employee until they meet certain targets.
Such a move, expected soon, could leave the bank open to a legal challenge. Rose is said to be ‘seriously considering’ taking legal action, Sky News reported.
On GB News, Farage said: ‘It would be an outrage if she walked away with a huge sum of money.’
He was dropped by elite private bank Coutts, which is owned by NatWest, in June after an internal report said his views did not align with the company’s values.
The incident sparked a political furore and an urgent probe by the City watchdog to determine how prevalent de-banking is.
NatWest launched an internal review, with the outcome expected to emerge this month.
The de-banking row was reignited this week after it emerged staff at the bank, which is 38.6 per cent taxpayer owned, gloated about Farage losing his account.
A subject access request by the former politician revealed internal messages between employees branding him ‘an awful human being’ and ‘a crackpot’.
In messages obtained by the Mail, staff even appeared to discuss violence against Farage, with one employee writing that they would like to ‘kick him out of [a] moving car’. NatWest has apologised to Farage for ‘deeply inappropriate comments and poor behaviours’.
Rose has been receiving her £2.4m pay package while serving a notice period and is eligible for a portion of a £2.9m bonus and long-term share awards, bringing her total maximum pay package to £5.3m. In addition, she holds roughly 2.5m unvested shares.
NatWest said: ‘In line with our previous commitments, the key findings of the independent review and the recommendations will be considered by the board.’
