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Alison Rose, NatWest chief executive, (right) departs 10 Downing Street in London, after meeting with Chancellor Jeremy Hunt. Prime Minister Rishi Sunak and several members of his Conservative government issued statements condemning the bank and characterizing the termination of Farage's account as an affront to free speech. Farage was offered an alternative account at regular main street bank NatWest, but declined. His critics maintain that although frequent references are made to Farage's political profile and controversial views, the reasons outlined for allowing the banking relationship to lapse were primarily commercial, and he was not "de-banked" as he claims. Without the mortgage, the bank indicated that Farage's account value would fall below its commercial criteria.
Persons: Jonathan Bachman, Alison Rose, Nigel, Coutts, Rose, Danni Hewson, AJ Bell, Farage, Coutts —, Chancellor Jeremy Hunt, James Manning, Rishi Sunak, Nigel Farage, , DANIEL LEAL, Donald Trump, Vladimir Putin, Frances Coppola, Coppola, Dave Rushen Organizations: Getty, LONDON, NatWest, BBC, UBS, Conservative, Brexit Party, Independence Party Leader, U.K, Independence Party, UKIP, Sky News, NatWest Group, Company Locations: London, U.K, inclusivity, Leicester, British
NatWest goof is a boon for sketchy bank clients
  + stars: | 2023-07-21 | by ( Liam Proud | ) www.reuters.com   time to read: +5 min
LONDON, July 21 (Reuters Breakingviews) - A row between right-wing talking head Nigel Farage and UK bank NatWest (NWG.L) could have much broader consequences. Last November, a reputational risk committee of NatWest’s exclusive private bank Coutts decided to ditch Farage by summer 2023. After closing the Coutts wealth account, NatWest offered Farage a standard one at the parent group instead, for example. But for now the biggest winners from the Farage-Coutts row seem to be sketchy UK bank customers. Briefing papers presented to Coutts’ wealth reputational risk committee said Farage was “considered by many to be a disingenuous grifter”.
Persons: Nigel Farage, Alison Rose, Farage, Coutts, didn’t, Rose, Andrew Griffith, Coutts ’, , ” Farage, George Hay, Oliver Taslic Organizations: Reuters, NatWest, Conservative, Treasury, Financial Ombudsman Service, Twitter, UK Independence Party, Thomson
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