Natwest to appoint Rick Haythornthwaite as new chair and he’ll take charge next April September 6, 2023 Natwest is preparing to appoint Rick Haythornwaite as successor to chair Howard Davies.
Dame Alison Rose: Ex NatWest boss handed £2.4m pay package August 23, 2023 Former NatWest boss Dame Alison Rose’s pay package – reportedly £2.4m – has been branded a “sick joke” by Nigel Farage. Dame Alison quit her high-profile role as boss of NatWest, which also owns private bank Coutts over her handling of Farage’s account closure – which sparked a ‘debanking’ scandal. NatWest Group issued an RNS [...]
Public firms could be allowed to extract £50bn from staff pension schemes in bid to boost investment August 21, 2023 Public firms could be permitted to withdraw up to £50bn from staff pension schemes if government plans for a sweeping shake up of the industry’s rules go ahead. Returns on investments in government bonds – known as gilts – have seen workplace pension schemes go from being well in the red to significantly cashed up [...]
Natwest gets slap on the wrist after flouting customer service rules August 15, 2023 Natwest and the Co-Operative Bank have been given a slap on the wrist by the competition watchdog today after potentially misleading customers over the quality of service they were receiving. In letters to the two banks today, the Competition and Markets Authority said Natwest and Co-Op Bank had both breached part three of the Retail [...]
Financial watchdog to ask MPs about debanking experiences August 15, 2023 British politicians are to be asked to reveal whether they have encountered problems or faced being “debanked”, as part of an inquiry by the UK’s financial watchdog. The Financial Conduct Authority (FCA) said it is looking into the rules surrounding politically exposed persons (PEPs), which includes MPs. The regime was thrust into the spotlight after [...]
Monzo staff comms reveal anti-Tory messages as de-banking scandal grows August 3, 2023 Monzo staff made multiple disparaging remarks about the Conservative party, according to reported internal company messages, as a growing row about lenders closing individuals bank accounts engulfs the banking sector. The internal communications, reported by The Telegraph, show staff describing Tories as “evil”, and called for Conservative MP Jacob Rees-Mogg to “do the human race [...]
Natwest forced to pay £90,000 after sacking exec days after cancer surgery August 2, 2023 A former Natwest executive was awarded £90,000 yesterday after she brought a case against her old employer for dismissing her days after she underwent surgery for cancer. Adeline Willis, a senior risk and compliance officer, was let go by Natwest in April 2020, eight months after a bowel cancer diagnosis and just days after she [...]
Interest rate boost slowing for banks as changing customer behaviour cuts margins July 30, 2023 The UK’s high street banks have warned that the boon from rising interest rates might be coming to an end as changing customer behaviour and an increasingly competitive mortgage market hits margins. Natwest, Barclays and Lloyds recorded bumper profits last week, but investors were dismayed by the more cautious outlook. Both Natwest and Barclays UK [...]
Natwest chair Howard Davies WILL stay on after Nigel Farage Coutts scandal July 28, 2023 Natwest chair Howard Davies said he would stay on as boss of the bank’s board while the lender tries to recover from the scandal involving Nigel Farage’s Coutts bank account. Speaking to reporters after the bank published its results, Davies said “my intention is to continue to lead the board and ensure that the bank [...]
Natwest: Alison Rose signs off with bumper profit even as bad loan provisions double July 28, 2023 Natwest announced a new share buyback scheme after beating expectations in the second quarter, but cut its guidance as customers increasingly seek out higher rates on their deposits.