		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p>The CEO of the prestigious private bank for the wealthy, Peter Flavel has stepped down over the Farage debanking scandal row. </p>
<p>The departure comes after Dame Alison Rose, the CEO of the Nat West group apologised to Nigel Farage and resigned for breaking client confidentiality rules, exposing his financial details to a BBC journalist.</p>
<p>NatWest &#8211; which owns Coutts &#8211; said Peter Flavel&#8217;s resignation had been mutually agreed and would be immediate. Mr Flavel said how the bank handled Mr Farage&#8217;s account had &#8220;fallen below&#8221; its &#8220;high standards of personal service&#8221;. </p>
<p>Mr Farage said &#8220;ultimate responsibility for the dossier de-banking me for my political views&#8221; lay with Mr Flavel.</p>
<p>NatWest, which is 39% owned by the taxpayer, has been under fire after Dame Alison admitted she had made a mistake in speaking about Mr Farage&#8217;s relationship with Coutts. On Thursday, Mr Flavel said it was &#8220;right that I bear ultimate responsibility for this, which is why I am stepping down&#8221;.</p>
<p>This debacle began in July when Mr Farage, a prominent Brexiteer, said that his account at private bank Coutts had been closed and that he had not been given a reason. The BBC then reported that it was closed because he no longer met the wealth threshold for Coutts, citing a source familiar with the matter. </p>
<p>However, Mr Farage later obtained a report from the Bank which indicated his political views were also considered. The 40-page document flagged concerns that he was &#8220;xenophobic and racist&#8221;, and also questioned the reputational risk of having Mr Farage as a client. It said that to have Mr Farage as a customer was not consistent with Coutts&#8217; &#8220;position as an inclusive organisation&#8221; given his &#8220;publicly stated views&#8221;.</p>
<p>The fallout from Mr Farage having his bank account closed has raised questions over whether banks can terminate accounts due to a person&#8217;s political views. The law states that every person in the UK has a legal right to hold a basic bank account, and that banks &#8220;must not discriminate against consumers&#8221; for a list of reasons such as sex, race, religion and also political beliefs.</p>
<p>The government met bank bosses on Wednesday who agreed to reforms on the closure of customer accounts.</p>
<p>Paul Thwaite, Dame Alison&#8217;s interim replacement at the top of NatWest, said Mr Flavel&#8217;s departure was &#8220;the right decision for Coutts and the wider group&#8221;. Mohammad Kamal Syed is set to take over as the boss of Coutts on an interim basis.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-68ed0e6749c92">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-68ed0e6749c92',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
