Peter Flavel resigns: Coutts CEO steps down ‘with immediate effect’ after coming under fire in Nigel Farage row
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.
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.”
READ MORE POLITICS
Following his resignation, 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 welcomed the resignation of the ex-bank chief, saying it was “only a matter of time” before he stood down.
“The ultimate responsibility for the dossier de-banking me for my political views lies with him,” Mr Farage said.
“I even wrote to Mr Flavel twice before going public and didn’t receive an acknowledgment.”
The ex-Brexit Party leader also demanded Sir Howard Davies, Chair of the Natwest Board, quit his role.
Sir Howard originally stood by Dame Alison in the wake of the scandal, before u-turning on his decision just hours later and forcing her out.
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.
Most read in The Sun
“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.”