11/23/2023 0 Comments Bust the bank![]() ![]() Mr Farage fought back against his “de-banking”, which Coutts’ owner NatWest – one of Britain’s largest retail banks – originally ascribed to the former politician falling below the wealth threshold for an account at the upper-crust bank. “As CEO of Coutts, it is right that I bear ultimate responsibility for this, which is why I am stepping down.” “In the handling of Mr Farage’s case we have fallen below the bank’s high standards of personal service,” Mr Flavel said in a statement. He had held the plum post for more than seven years, leading a transformation of the fusty institution into a standard-bearer for progressive causes such as sustainability and LGBTI+ rights.īut it was this very achievement that did it for him in the end: Coutts had been trying to “exit” Mr Farage as a customer, fearing unhelpful association with his views on issues such as race and immigration – and it all went wrong. London | The noisy fracas over elite British private bank Coutts’ effort to ditch right-wing maverick Nigel Farage as a customer has claimed the scalp of the most senior Australian executive in Britain’s financial industry.Īdelaide-born Peter Flavel, who began his C-Suite career at National Australia Bank, on Thursday (Friday AEST) bowed to the inevitable and announced his resignation as CEO of Coutts, the 300-year-old banker to the royal family. ![]()
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