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Dame Alison Rose Resigns As CEO of NatWest Following Nigel Farage Leak Scandal

Dame Alison Rose Resigns As CEO of NatWest Following Nigel Farage Leak Scandal

Dame Alison Rose, chief executive of NatWest Bank, became embroiled in controversy after briefing a BBC journalist on its 40-page dossier on Nigel Farage. As such, an emergency meeting is being convened within their board in order to decide on her fate. Sir Howard Davies acknowledged Dame Alison made a serious misjudgement when discussing former Brexit party leader Nigel Farage with a journalist, however the Board retains full trust in her. Dame Alison Rose Resigns Coutts, a subsidiary of NatWest bank, has closed Nigel Farage's bank account after an argument over his political views with Coutts CEO Dame Alison Rose and her role in creating inaccurate BBC reports about this dispute. A senior Tory MP suggested she should resign over breaching customer confidentiality. Dame Alison acknowledged she made a "serious error of judgment" when discussing Farage's relationship with NatWest Group-owned private bank with a BBC journalist. Following this unfortunate episode, Dame Alison has now decided to step down, which Howard Davies, chairman of the board said was an unfortunate event and Paul Thwaite will assume interim control as chief executive. Resignations follows calls for restructuring at the bank, which is owned 39 per cent by taxpayers and where Ms Rose was the executive responsible. Downing Street had expressed grave reservations over their handling of the affair by Ms Rose and her team. Ms Rose has only recently taken up her post after former CEO Paul Flowers left in amidst allegations of mis-selling to wealthy customers. Since taking on her responsibilities, Ms Rose and her team have come under criticism from Conservative MPs due to how they managed the dispute over Mr Farage's accounts. Financial Conduct Authority regulations have placed additional strain on the bank over breaches of data protection laws. Following a Telegraph investigation revealing the accounts of former Ukip leader were closed upon bank's decision that his views did not align with their values, without providing any explanation or reasons behind their decision; while later denying being politically motivated. Regardless, this controversy has damaged their reputation while raising further doubts as to its independence from government control. Farage Resigns From Ukip Nigel Farage is an irrepressibly charismatic political force. As founder of UKIP from its fringes and cornering David Cameron into promising a Brexit referendum, he has proven his power at mobilizing opposition. At his rallies accompanied by thunderous motivational music, Farage talks in old-world register about losing sovereignty to Europe and immigration as well as elite cosmopolitans - promising to revive left-behind areas through investments on high streets and policies to revitalize fishing industries. Farage's political career has been marked by controversy. Accused of racism and xenophobia - particularly following his unveiling of a poster showing refugees arriving at Croatian borders - Farage was investigated for alleged electoral fraud while his financial dealings have also come under scrutiny with NatWest Chief Executive Alison Rose coming under heavy criticism for providing information regarding Farage bank accounts to BBC reporters. She has apologized profusely for her "serious error in judgment", yet pressure against her continues to mount. A number of MPs, including Conservative member Jonathan Gallis who called it an act of serious breach and declared it will break trust between clients and her, has called for her resignation as CEO of banking giant Barclays. NatWest's board has recently appointed Paul Thwaite to temporarily take on her duties, following an announcement by their board to conduct a full investigation into this matter and was advised by Financial Conduct Authority (FCA) that those involved be well-resourced with access to all pertinent information and people. The FCA has already requested that NatWest investigate this matter "swiftly and fully," per GDPR regulations enacted in Britain which requires companies to protect customers' personal data. NatWest's Board commissioned an independent review into what happened - promising to publish results as soon as they become available; working closely with British authorities ensure any misconduct will be punished accordingly. Ukip Leader Nigel Farage Resigns From the Party Nigel Farage, who led his populist libertarian Ukip party to success in European Parliament elections and British referendums, has decided to step away from politics. Since launching it in 1993, Farage had been in control of leading Ukip's membership. By calling for Britain's exit from Europe (whose membership he opposed for years), his message resonated with millions during 2015 elections and more recently the June 23 referendum, where 52 percent opted to exit it. Farage's resignation comes amid great turmoil across Britain as Prime Minister David Cameron announces his intention to step down by October, setting off a leadership contest within his Conservative Party and handing control of Brexit negotiations to Britain's new leader - among them immigration spokesman Steven Woolfe, culture spokesman Peter Whittle or deputy chairman Diane James as potential successors of Cameron. NatWest Group CEO Dame Alison Rose came under immense pressure to resign following her admission that she discussed Farage's banking row with BBC journalist Simon Jack, yet decided not to do so on Wednesday. Her action may have been regrettable but Sir Howard Davies expressed full confidence in her. Davies stated the board will also hold emergency talks late into the night in order to assess its potential effect on Rose's pay package for 2019. Rose has come under scrutiny over Coutts Bank, owned by taxpayer-backed NatWest, closing Farage's account citing operational reasons despite evidence demonstrating it may have been due to his political views being in conflict with those of Coutts. Last week, UKIP leader Nigel Farage accused NatWest Bank of discrimination and called for an independent review. In particular he has singled out NatWest Chairman Paul Rose and Coutts Chief Executive Peter Flavel as being responsible. Within his party itself he isn't universally loved either; critics state he failed to build a team of competent people while lacking strategic vision to lead Ukip into its future. Ukip Leader Nigel Farage Resigns From Politics Dame Alison Rose announced her resignation as CEO of Coutts Bank after numerous reports revealed her role in a scandal involving UKIP leader Nigel Farage's account closure due to his political views. Farage had been banking with Coutts - owned by NatWest Group - for over 30 years when his account was shut due to staff compiling an internal dossier suggesting his account did not align with their values. In her resignation statement, Dame Alison acknowledged she made a serious lapse of judgment by discussing Mr. Farage's relationship with a bank with a BBC journalist. She claimed the information given was already public knowledge and briefing was "not appropriate". Furthermore, she demanded an apology from the BBC but no apology was forthcoming. Understandably, Dame Alison faced increasing pressure to step down after admitting she broke client confidentiality by discussing its contents on television with BBC's Jonathan Dimbleby. Prior to that she claimed the dossier was created to help Mr. Farage reevaluate his relationship with a bank. She came under fire for apparently failing to double-check the accuracy of the BBC story prior to publication. Although it is believed she attempted to clarify her version of events the next day with them, this request was denied. Dame Alison's departure comes days after UKIP lost all remaining seats in the European Parliament, which once comprised its second-largest political party before Brexit voters drove it from existence. Farage himself stepped down as leader of UK Independence Party but has no plans to return to politics in any capacity. His message reached millions of voters, particularly in England, and his blunt political discourse won over conservative voters who felt ignored by the establishment. Yet his controversial approach attracted accusations of racism and xenophobia; furthermore his rivalry with Douglas Carswell (UKIP's only MP) degenerated into violent conflict.

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