NatWest confirms that former boss Dame Alison Rose will not receive £7.6m pay-off payment after Farage row

NatWest has confirmed reports that former chief executive Dame Alison Rose is set to receive a reduced payout after she left the top job earlier this year.

The bank confirmed that Dame Alison will receive £7.6m less than her potential payout. She is still set to bag a £2.4 million equating to 12 months of pay and benefits, while also pocketing £800,000 in former bonus shares, however this remains well short of the £10m that she could have picked up in payments.

Dame Alison left the company in July 2021 after she admitted to speaking to a BBC journalist about the relationship between Coutts bank and Nigel Farage, after the former politician claimed that the bank had cancelled his account due to his political views. However, these claims were later refuted in a BBC article, with a source, later revealed to be Dame Alison, stating that it was for commercial reasons instead.

In its announcement, NatWest said that Dame Alison had not been considered to have "good leaver status",. However it added that there were "no finding of misconduct” against the former boss.

In a statement, Dame Alison responded: "I am pleased that NatWest Group has confirmed that no findings of misconduct have been made against me. I can also confirm acceptance of the terms of the settlement agreement, which is in line with NatWest Group's remuneration policy, bringing the matter to a close."