Ex-NatWest CEO Dame Alison Rose Breached Data Protection Laws Over Farage's Account Details, ICO Rules
Internal communications reveal a political culture at NatWest leading to calls for slashed severance pay following Dame Alison Rose's privacy breach; NatWest board to decide on Rose's multimillion exit package.
- Dame Alison Rose, the ex-CEO of NatWest, committed two breaches of data protection laws when she divulged to a journalist that Nigel Farage, a customer at one of NatWest's subsidiaries, had his bank accounts closed.
- Farage criticized the political culture at NatWest under Dame Rose's leadership, claiming that she promoted a culture that is toxic and against right-wing politics, which led to his 'debanking'.
- The ICO ruled her actions as 'unacceptable', however, regulatory action has been withheld as Dame Alison has already resigned from her role as chief executive and NatWest is conducting an independent investigation.
- Farage has called for a reduction in Dame Alison's severance package, which estimates suggest could be more than £10 million in pay, bonuses and stock. The matter is under consideration by the NatWest board.
- Dame Alison's controversy and subsequent resignation has cast a shadow over NatWest, which still holds 38.6% taxpayer ownership due to a bailout during the 2008 financial crisis.