Andrew Griffith, the City minister, has stated that it would not be 'helpful' for NatWest chairman Sir Howard Davies to resign amid the ongoing controversy over Nigel Farage's Coutts bank account. The comments come after the bank lost its chief executive, Dame Alison Rose, and the head of Coutts, Peter Flavel, following the furore.
Speaking on BBC Radio 4's Any Questions, Griffith said: 'I don't think that Sir Howard Davies going now would be helpful.' He noted that Davies was already due to leave next year and that an independent investigation was underway to determine what had occurred.
The row erupted after it emerged that Farage's account with Coutts had been closed without explanation. Farage claimed it was due to his political views, while internal documents showed the bank had considered his 'xenophobic, chauvinistic and racist views' and his falling 'below commercial criteria'. The BBC faced criticism for its reporting and apologised to Farage after Rose admitted being the source.
Other cases of account closures have also come to light, including that of Finsbury Park mosque and the True and Fair party led by Gina Miller. Miller warned that if new political parties cannot access banking services, 'we don't have a functioning democracy'.
NatWest has appointed law firm Travers Smith to lead an independent review into the handling of the Farage case. Meanwhile, the bank reported a pre-tax profit of £3.6bn for the first half of the year, up from £2.6bn a year earlier.
