COUTTS CEO Peter Flavel quit his job today as fallout from the Nigel Farage bank account scandal continued.
The resignation came just one day after Dame Alison Rose was fired as NatWest CEO for leaking a false story about the Brexiteer’s Coutts account to the BBC.
Coutts CEO Peter Flavel stepped down today as the fallout from the Nigel Farage bank account scandal continues
New NatWest Group chief executive Paul Thwaite said: “I have agreed with Peter Flavel that he will step down as Coutts CEO and CEO of our wealth businesses by mutual consent with immediate effect.
“Whilst I will be personally sorry to lose Peter as a colleague, I believe this is the right decision for Coutts and the wider group.”
Mr Flavel will be replaced in the interim by Mohammad Kamal Syed.
Mr Thwaite added: “Mo has extensive wealth management experience and is the ideal person to lead Coutts through this difficult time as we begin the search for Peter’s replacement.”
Mr Flavel said: “I am exceptionally proud of my seven years at Coutts and I want to thank the team that have built it into such a high performing business.
“In the handling of Mr Farage’s case we have fallen below the bank’s high standards of personal service.
“As CEO of Coutts it is right that I bear ultimate responsibility for this, which is why I am stepping down.”
Mr Farage and Downing Street yesterday welcomed the resignation of Dame Alison.
But the ex-Brexit Party leader said now “others must follow” in her footsteps.
He demanded Sir Howard Davies, Chair of the Natwest Board, quit for originally sticking by Dame Alison, before u-turning on the decision just hours later.
Earlier today Rishi Sunak refused to back calls for Mr Davies to go.
The PM insisted the Government was taking “tough action” to ensure banks behave fairly.
“We have passed new laws to ensure banks do treat customers fairly and they are not discriminating against people because they are exercising their lawful right to free speech,” Mr Sunak said.
“And we’re making sure that people, if banks are going to take away their bank accounts, have an ability to challenge that and have those bank accounts re-instated through the ombudsman.
“So there’s tough action that the Government has taken to make sure that banks are behaving in the right way.”
