Natwest’s former CEO set for £2.4m payout following resignation

Natwest's former CEO set for £2.4m payout following resignation

Alison Rose

Dame Alison Rose, the former CEO of Natwest, is poised to receive a payout of around £2.4 million, just a month after her controversial resignation from the bank.

The departure was precipitated by a contentious incident involving the closure of an account held by Nigel Farage at Coutts, a subsidiary of Natwest.

The planned remuneration is made up of £1.155m from her salary for the year, £1.155m in Natwest shares distributed over five years, and £115,566 for pension payments. There is also potential for additional variable payouts, such as performance-related bonuses. These prospective bonuses are presently under scrutiny in line with the ongoing investigation related to the Farage account closure.

Mr Farage expressed his dissatisfaction, dubbing the payout “a sick joke”. He criticised Ms Rose for violating client confidentiality and going against the FCA code, yet still being on track for such a substantial payout, The Scotsman reports.

The bank’s spokesperson stated that decisions about Ms Rose’s payout would be determined in light of the findings from both internal and external investigations concerning the account closure.

Paul Thwaite, succeeding Ms Rose as CEO, will reportedly have a marginally reduced salary compared to his predecessor.

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