DAME Alison Rose, the former chief executive of NatWest Group forced to step down following a row over Nigel Farage’s accounts, will receive a pay-off worth £2.43 million.

The NatWest veteran resigned on July 25 after it was disclosed that she was the source of stories in the BBC concerning the former UKIP leader’s accounts with Coutts, its private banking division. It was first reported that Mr Farage had had its account closed for commercial reasons before it was later revealed managers had voiced concerns over his political views.

The episode led to a wider debate about whether people should be “de-banked” on account of their opinions.

Dame Alison was initially backed by the NatWest board before resigning just hours later amid pressure from Downing Street.

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NatWest, which owns Royal Bank of Scotland, said in a statement to the stock market today that Dame Alison was currently serving a 12-month notice period during which she will continue to receive her fixed pay. This comprises a salary of £1,155,660 and a fixed share allowance of £1,155,660, payable in NatWest shares and released annually on a pro-rata basis over five years from the date of award, and a pension allowance of 10% of salary (£115,566) Dame Alsion will also receive contractually agreed benefits in line with the bank’s approved policy.

NatWest noted that her notice period and the payments she will receive relating to it will be reviewed on a continuing basis, having regard to the internal and external investigations taking place into the Farage affair.

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Separately, the bank announced her interim successor Paul Thwaites, who has been appointed to the role for an initial 12 months, will receive fixed pay comprising a salary of £1,050,000 and a fixed share allowance of £1,050,000, as well as pension funding.