Government Sells Further Stake in NatWest a Year After Debanking Scandal

Published on May 31, 2024

The government has sold £1.24 billion worth of shares in NatWest, 10 months after the chief executive stepped down in the wake of the Nigel Farage debanking scandal. In July 2023 Dame Alison Rose resigned after it emerged she met with a BBC journalist who was researching an article about UKIP leader, Nigel Farage’s accounts with the private bank Coutts, which is part of NatWest Group’s wealth management division. Following Dame Alison’s resignation, the Chancellor Jeremy Hunt said he had “significant concerns” about how she handled the closure of Mr. Farage’s bank accounts. This week Mr. Hunt’s department, the Treasury, confirmed it had sold off part of its stock of NatWest shares....

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