The chief executive of NatWest, one of Britain's biggest banks, left her job on Wednesday after discussing personal details of a client, the populist politician Nigel Farage, with a journalist amid a furor over financial institutions' power to refuse customers for their political views.
Nigel Farage speaks at the Conservative Political Action Conference, CPAC 2023, March 3, 2023, at National Harbor in Oxon Hill, Md. The chief executive of NatWest, one of Britain's biggest banks, left her job on Wednesday after discussing personal details of a client -- the populist politician Nigel Farage -- with a journalist amid a furor over financial institutions' power to refuse customers for their political views.
Farage, a right-wing talk show presenter and former leader of the pro-Brexit U.K. Independence Party, said his account with the private bank Coutts, owned by NatWest Group, had been shut down unfairly. Farage, a skilled seeker of attention and generator of outrage, accused the bank of stomping on his freedom of speech, and some members of the Conservative government echoed his concerns.
Coutts, which has been headquartered on The Strand in central London for more than 300 years, advertises that its customers -- who include the Royal Family -- are part of "an exclusive network." He said he told participants that "it's not the job of banks to tell us what to think or what political party we should support."
The changes are intended to boost transparency for customers but will not remove a banking firm's right to close accounts of people deemed to be a reputational or political risk.
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