Two down, one to go. Following the humiliating midnight departure of NatWest chief Alison Rose, Peter Flavel is the next banking boss to fall on his sword. Flavel, the chief executive of Coutts since 2016, this lunchtime announced his immediate departure from the luxury bank as it grapples with the fall out of the Nigel Farage scandal. Flavel said:
In the handling of Mr Farage’s case we have fallen below the bank’s high standards of personal service. As CEO of Coutts it is right that I bear ultimate responsibility for this, which is why I am stepping down.
Mohammad Kamal Syed, the head of Coutts’ asset management team, will step into the role of interim CEO of Coutts. Paul Thwaite, who was appointed as NatWest Group CEO yesterday after Rose stepped down, said:
I have agreed with Peter Flavel that he will step down as Coutts CEO and CEO of our Wealth Businesses by mutual consent with immediate effect.
Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in