Paul Thwaite, NatWest Group CEO 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. Whilst I will be personally sorry to lose Peter as a colleague, I believe this is the right decision for Coutts and the wider Group.
I have asked Mohammad Kamal Syed* to step into the role of interim CEO of Coutts and our Wealth Businesses. Mo has extensive Wealth Management experience and is the ideal person to lead Coutts through this difficult time as we begin the search for Peter's replacement.”
Peter Flavel said "I am exceptionally proud of my seven years at Coutts and I want to thank the team that have built it into such a high performing business. 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.”
*Subject to required approvals
