Dame Alison Rose: Ex NatWest boss handed £2.4m pay package
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 this morning stating that Dame Alison was currently serving out her 12-month notice period and that, per her contract, she would receive her fixed pay.
This amounts to: a salary of £1,155,660; a fixed share allowance of £1,155,660; and a pension allowance of 10 per cent of her salary.
The former UKIP leader posted a video on social media platform X, formerly Twitter, claiming: “This is the corrupt British establishment looking after its own.”
‘Reward for failure’?
Her shares are payable in NatWest Group shares and released annually on a pro-rata basis over five years from the date of award, the bank said.
However, this figure does not include variable remuneration, such as bonuses or variable share allowances which NatWest said would be revealed “when such decisions are made”.
Her salary “remains under continual review” and further remuneration relates to the outcome of the bank’s internal investigations, indicating that her payout could be even higher.
Conservative MP and former party chairman Jake Berry also posted on X: “Disgraceful reward for failure in this largely taxpayer owned bank.”
Rose ‘under review’
The bank is 38.5 per cent taxpayer owned, and Dame Alison’s pay is subject to malus and clawback rules. She may have to return some of her previous pay if wrongdoing is proved.
A NatWest Group spokesperson told CityAM: ““Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay.
“This in line with her contractual notice period and remains under continual review, as the independent investigation continues.
“As previously confirmed, no decision on her remuneration will be taken until the relevant investigations are complete.”