Former Natwest boss considering legal action over payoff decision: reports
Former Natwest boss Dame Alison Rose is considering challenging a looming decision by the bank to cancel a multi-million pound payoff, Sky News has reported.
The bank is widely expected to cancel £5.2m of long-term share options that Rose had accrued during her leadership.
Rose, the first woman to run one of Britain’s major London-listed banks, resigned in July after she admitted to discussing Nigel Farage’s bank account with a BBC journalist.
Coutts’ closure of the former UKIP leader’s account sparked controversy over claims of politically motivated ‘debanking’ and has triggered an investigation by the UK’s financial regulator.
Sky reported that someone “close to the situation” said Rose was considering mounting a formal legal challenge if Natwest decides to cancel her payoff.
A Natwest spokesperson told Sky: “In line with our previous commitments, the key findings of the independent review and the recommendations will be considered by the board.
“These, along with the group response, will be published in due course.
“In the meantime we will not comment on any speculation.”
A public filing by the bank in August revealed that Rose had been receiving her annual £2.4m package since departing.
Rose has temporarily been replaced by Paul Thwaite, who formerly led Natwest’s commercial business.
Neither Rose nor her spokesman responded to a request for comment from Sky on Tuesday night.
Natwest did not immediately respond to a request for comment by City PM
The bank is due to report third-quarter results on Friday.