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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff and Anna Isaac

Coutts chief quits and crisis wipes £1bn off NatWest shares

NatWest Coutts Howard Davies Peter Flavel Alison Rose Nigel Farage Paul Thwaite ​​Rishi Sunak NatWest Group Andrew Griffith
Portrait of him in dark suit and tie
Peter Flavel’s resignation was pushed through by NatWest’s interim chief executive. Photograph: David Harrison/Coutts

The head of private bank Coutts has been ousted over the closure of Nigel Farage’s bank accounts in a desperate attempt by NatWest to contain a crisis that has wiped £1bn off its share price.

Peter Flavel’s resignation from Coutts was pushed through by the NatWest interim chief executive, Paul Thwaite, but despite the move, the future of its chairman, Sir Howard Davies, appeared far from secure.

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