The FCA is to probe potential regulatory breaches related to NatWest's unilateral closure of politician Nigel Farage’s Coutts bank account earlier this year.

The FCA has concluded that there is no evidence of banks denying politicians access to accounts due to their political views following an investigation in the wake of the row that erupted between Nigel Farage and Coutts Bank this summer.

Former Centrica chairman Rick Haythornthwaite will take over as the £775,000 a year chairman of NatWest Group in April when current chairman Sir Howard Davies steps down.

Peter Flavel, the CEO of private bank and wealth manager Coutts, is to step down with immediate effect as the fall out from the Nigel Farage bank account fiasco continues.