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NatWest under fire for Rose pay-out | Consensus HR – Herts, Beds

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NatWest under fire for Rose pay-out | Consensus HR – Herts, Beds

Alison Rose, the outgoing CEO of NatWest, is in line for a £2.4m pay package this year despite resigning for divulging details about Nigel Farage’s banking status to a journalist. Farage had complained about his account with NatWest’s private banking subsidiary Coutts being closed. Rose admitted that she’d indicated to a BBC journalist that the decision had been taken for commercial reasons but a dossier on Farage revealed Coutts had closed the account due to his political views. The bank revealed on Wednesday that Rose was seeing out her 12-month notice period on her contract, making her eligible for the £2.4m plus a bonus of up to £2.9m and stock worth £6m.

 

Financial Times

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The Times

Daily Mail

Our HR comment: – NatWest under fire for Rose pay-out 

Matthew P Chilcott, FCIPD, ACEL, Owner of Consensus HR comments: “What an interesting story following the well-publicised resignation of the CEO of NatWest following her divulging Nigel Farage’s banking status!  Personally, I am surprised that they are allowing her to work her notice and especially with it being 12 months and the damage to the bank’s reputation as well and what she will be entitled to financially!  What are your views?

Here are a few of our previous blogs on the subject:

NatWest under fire for Rose pay-out | Consensus HR – Herts, Beds

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NatWest under fire for Rose pay-out | Consensus HR – Herts, Beds

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Our Frequently asked HR Questions

Here is the first one of our Our Frequently asked HR Questions (FAQ's)

How can I dismiss without fear of an Employment Tribunal?

If you are considering the dismissal of an employee you must ensure you follow the ACAS Code of Practice and ensure your companies Policies and Procedures are followed fully and to best practice.

Failure to act reasonably could result in a claim to an Employment Tribunal for Unfair Dismissal with high financial awards, high Employment Tribunal costs and loss of company reputation.

If you are considering dismissing somebody, please contact us ASAP so that we can support you.

Employment Law –

Is continually becoming more complex and the average costs of getting it wrong have never been higher – Average £8.5k per day x 4 days for attendance at an Employment Tribunal (£34k).  This is why we at Consensus HR can provide your business with access to a local and professionally legally qualified HR Consultant for practical onsite or off-site employment law advice, at low cost monthly fee.

We support our monthly retained clients with everything from poor attendance of employees, introducing reward / benefit & performance management schemes, training & development to daily line management difficulties and Clients can either email or call us for the right HR advice and we can provide legally / best practice drafted letters for any situation.

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