According to reports, Coutts CEO Peter Flavel is expected to be the next significant player in the NatWest group to resign for his part in shutting Nigel Farage’s bank accounts.
After NatWest Group CEO Dame Alison Rose resigned early yesterday morning, the former Brexit Party leader turned GB News host called for Flavel’s resignation.
Dame Alison quit after revealing to a BBC interviewer that she had leaked Mr Farage’s private banking details, while Mr Flavel’s position is vulnerable due to his part in closing Mr Farage’s bank accounts.
While it was stated that Mr Farage had slipped below the wealth criteria for Coutts records revealed that one of the main reasons was his political convictions on matters such as Brexit.
A source said that Mr Flavel is “expected to resign today”.
Through the Treasury, the taxpayer owns 39 percent of NatWest, and ministers have been harshly critical of the bank’s behaviour.
The Sun also stated this morning that Mr Flavel is “not expected to last the week” for his role in the Coutts scandal, with Mr Farage calling his position “completely unsustainable at every level.”
The instability at NatWest and Coutts has prompted a 3.5 percent decline in stock prices, wiping out more than £600 million from the bank’s stock market worth.
Continued negative press and criticism on the bank over its handling of Mr Farage’s Coutts leave will be a constant distraction for NatWest as it works to recoup its lost value.