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What was Alison Rose’s NatWest salary?
DESPITE being forced to resign from NatWest, Alison Rose is in line for a hefty pay package.
The former chief executive joined the banking group in 2019, becoming the first woman to hold the top role at one of the big four banks in the UK.
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What was Alison Rose's salary at NatWest?
It has been reported that Alison Rose's total take-home amount at the time she stepped down from NatWest was £5.2million.
It is thought that this total is a combination of her salary and company bonuses.
This total pay package, which was first revealed in 2022, was a nearly 50 per cent rise from her 2021 salary.
In 2021, she reportedly earned £3.6million a year.
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Why did Alison Rose quit NatWest?
Dame Alison quit NatWest after admitting she had leaked a false story about Nigel Farage to the BBC.
News of Alison's quitting came after she issued an apology to Brexiteer Nigel Farage for "de-banking" him over his political views.
Earlier in 2023, Farage had revealed that his account with Coutts, owned by NatWest, had been closed without explanation.
The BBC then reported the false story that the former UKIP leader did not have enough money to hold the account.
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Farage hit back at these claims, insisting the account had been closed for political reasons.
He said he had obtained a 40-page dossier that suggested his account was closed partly because his views did not align with the bank's.
BBC Business Editor Simon Jack apologised to Farage over the false story about him not having enough funds.
Jack wrote on Twitter: "The information on which we based our reporting on Nigel Farage and his bank accounts came from a trusted and senior source.
"However the information turned out to be incomplete and inaccurate.
"Therefore I would like to apologise to Mr Farage."
Dame Alison later admitted she was the source that leaked the inaccurate story.
Rose has also apologised to Farage for "deeply inappropriate" comments made in the dossier.
He had been labelled “xenophobic and racist" in the internal memo at the luxury bank.
Has Alison Rose been replaced at NatWest?
Rose has been replaced by Paul Thwaite for 12 months while NatWest searches for a permanent replacement.
Thwaite is the current CEO of NatWest's commercial and institutional franchise.
Before that role, he led the group’s commercial banking division.
What was Alison Rose's rumoured payout from NatWest?
The bank has reportedly revealed that Rose will still be paid her £2.4m compensation package while under investigation.
However, this salary depends on the outcome of an investigation into her revealing information regarding Mr Farage’s account.
NatWest added that policies allowing the company to potentially "claw back" bonus payments will apply to the former boss.
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She will receive her £1.16million fixed pay and a fixed-share allowance of the same value.
This is released over five years, while she is on 12-month gardening leave.
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