By Chris Dorrell
The boss of private bank Coutts has resigned for his part in the closure of Nigel Farage’s bank account.
Peter Flavel’s resignation follows thedeparture of Natwest boss Dame Alison Rose in the early hours of Wednesday morning and comes as pressure grows on other members of the Natwest board to step down over the issue.
“In the handling of Mr Farage’s case we have fallen below the bank’s high standards of personal service,” Flavel said.
“As CEO of Coutts it is right that I bear ultimate responsibility for this, which is why I am stepping down.”
Acting chief executive Paul Thwaite said the decision was made by “mutual consent”.
“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,” he said.
Mohammad Kamal Syed has been asked to step into the role of interim chief executive. Thwaite said he is “the ideal person to lead Coutts through this difficult time”.
More to follow
