Farage debacle CEO moves to Princess Diana's firm
Dame Alison Rose, the former CEO of NatWest, who stepped down last year after the fallout from the Nigel Farage account closure, has taken on a new role at Mishcon de Reya, the law firm that advised her during her departure from the bank.
Rose will serve as an adviser on the firm’s diversity and inclusion strategy and will mentor some of its partners. Farage made headlines recently when he referred to DEI training as “poisonous”.
“It is true that I have not been in a rush to complete my parliamentary diversity training since being elected,” he said. “I am not in favour of the poisonous DEI agenda that has been forced on to society by our woke institutions.”
Rose’s move is seen as part of her efforts to rebuild her career after the Farage controversy that led to her abrupt resignation from NatWest in July 2023.
Rose’s appointment at Mishcon comes on the heels of her recent role with Charterhouse, a private equity firm, where she joined as a senior adviser in June. Known for its work with high-profile clients, including representing Princess Diana during her divorce, Mishcon de Reya also assisted Rose with the terms of her exit from NatWest, as reported by The Times last year.
Rose’s tenure at NatWest made her one of the most prominent female leaders in the UK's financial sector. However, her career trajectory shifted dramatically after Farage, leader of the Reform Party, revealed that Coutts, NatWest’s private banking division, had decided to close his accounts. Internal documents from the bank indicated that Farage’s political views were deemed inconsistent with Coutts’ values as an inclusive organisation.
The situation escalated when it was revealed that Rose had discussed the Farage case with a BBC journalist. Despite NatWest finding no official misconduct, the UK government, as NatWest's largest shareholder, lost confidence in her leadership. Rose ultimately forfeited £7.6 million in pay as her exit was not classified as that of a "good leaver" under the bank’s executive policies.
At Mishcon de Reya, Rose’s role focuses on fostering diversity and inclusion, areas she had championed during her time at NatWest. The firm’s chief people officer, Vanessa Dewhurst, expressed enthusiasm about Rose joining the team, stating: “Advisers of Alison’s calibre and leadership are rare, and we’re thrilled to have her expertise, especially given our commitment to equity, diversity, and inclusion targets.”
Rose's growing portfolio in advisory roles reflects her efforts to restore her reputation in the business world, following her 27-year career at NatWest, where she started as a graduate trainee and rose to become its first female CEO.
