NatWest hires new chairman to replace Sir Howard Davies in wake of Farage debanking debacle
NatWest has named the successor to under-fire chairman Sir Howard Davies, who was fiercely criticised after the Nigel Farage debanking fiasco.
Former Mastercard, Centrica and Network Rail chairman Rick Haythornthwaite will take on the role when Davies steps down slightly earlier than expected next year.
But the timing of the handover in April provoked a furious reaction from Farage, who said Davies should have been sacked rather than allowed to see out his term.
Dame Alison Rose, the state-backed lenders chief executive, was forced out in July over the debacle, which started when the former Ukip leader claimed he had been stripped of his bank account because of his political views.
When it came to light that Rose had briefed a BBC journalist over the affair, resulting in a misleading story, Davies initially declared that the NatWest board had full confidence in her.
But that resolve crumbled when it became clear that she had lost the support of Downing Street and Rose was forced out raising serious questions about the chairmans judgment.