As the former trainee who worked her way up to become the first female boss of a major British lender, it is Dame Alison Rose who holds ultimate responsibility for Nigel Farage’s bank account closure.

       Since taking the helm at NatWest, which owns Coutts, the 53-year-old has overseen their pivot towards saving the planet and putting diversity at the heart of the business.

       Coutts, which only accepts wealthy clients, has in recent years focused less on maintaining its image as the bank of the late Queen and more on championing initiatives on climate change. Its transformation appears to have come from the top.

       Dame Alison grew up overseas with a military family, before returning home when she was 15 and later graduating from Durham University in 1991.

       She joined NatWest as a graduate a year later and spent three decades climbing up the ranks and later going on to lead the Royal Bank of Scotland’s (RBS) corporate and banking division.

       In 2019, she was appointed the first female chief executive of RBS, which later became NatWest, in what was widely seen as a watershed moment for the banking industry.

       However, rather than focus solely on the financials of the lender, still a third owned by the taxpayer, she decided that the bank must involve itself in debates over climate change and LGBT rights.

       Tackling climate change a ‘central pillar’

       Just months after she was appointed, Dame Alison announced that “tackling climate change would be a central pillar” of her leadership and earlier this year called on banks to finance net zero.

       “Put simply,” she said, “tackling the climate emergency is one of, if not the biggest issue of our time – and banks have a massive role to play in mobilising the power of finance to meet the net zero ambition.”

       On the same day of her speech, the bank ended new loans for oil and gas extraction.

       She was made a Dame in the New Year Honours List and has been an advocate for equality in the workplace, co-authoring a review on female entrepreneurship.

       Last year, she took home ￡5.25 million over the year, as she received an annual bonus for the first time since the bank’s bailout by the Government during the 2008 financial crisis.

       As well as running the bank’s day-to-day operations, she personally oversees its inclusivity initiatives, describing herself as “a passionate supporter of diversity and is executive sponsor for NatWest Group’s employee-led networks”.

       Speaking ahead of Pride last year, she said: “Our focus on diversity, equity and inclusion is integral to our purpose of championing the potential of people, families and businesses.

       “And NatWest Group’s employee-led networks are playing a huge part in creating a truly inclusive culture at the bank. If you’d like to learn more about our eight networks, which I’m incredibly proud of.”

       Her approach has been evident in the bank’s policies for employees, with staff allowed to identify as men and women on different days as part of a series of LGBT-friendly diversity measures.

       Double-sided lanyards were offered to staff who identify as non-binary, so that they could alternate between different identities.

       NatWest has also paid for transgender staff to get privately funded hormone treatment and has signed up to controversial schemes run by the charity Stonewall, appearing in its Equality Index last year.

       Guidance by Stonewall has included describing mothers as a “parent who has given birth” and allowing those who self-identify as a woman to use female toilets and changing rooms.

       Stonewall has repeatedly insisted it does “not seek to influence operational decisions”.

       The disclosures from Mr Farage that his accounts appear to have been closed because his views did not align with Coutts suggested that customers who do not agree with the bank’s worldview may not be tolerated.

       Coutts has gone further than its parent company in its efforts to go green, spending two years transforming itself into a “B Corp”.

       It was awarded the title by a US-based organisation that hands out certificates for social and environmental impact, which said it was using “business as a force for good” and balancing profit with purpose.

       Peter Flavel, the chief executive of Coutts who reports to Ms Rose, has said that “with wealth comes responsibility”.

       Last month, the bank covered its headquarters on the Strand with rainbow colours and the slogan “Championing the Power of Pride’’.

       The bank also launched a diversity prize in recent years in conjunction with Eton for schools across the Thames Valley, and introduced inclusion champions who monitor behaviour and culture in the workplace.

       The bank said that the initiatives “go a long way towards helping create a more inclusive culture”.

       Coutts was one of five founding signatories for the UN’s Principles of Banking, with a focus on climate and the environment.

       Mr Flavel has been vocal about climate change, attending the Cop26 conference.

       “Each and every one of us has the power to create change,” Mr Flavel noted on the bank’s website. “And now, more than ever, is the time to do just that.”

       Coutts was founded in 1692 and is the eighth oldest bank in the world. It was founded by Scot John Campbell of Lundie as a goldsmith which offered banking services on the Strand.

       Many of his customers were fellow Scots, and Royal patronage began when Queen Anne commissioned Campbell to make the collars and badges for the Order of the Thistle.

       The name Coutts did not appear in the title of the bank until 1755 when James Coutts, a Scottish banker, joined the business after marrying Mary Peagrum, the granddaughter of the founder.

       During the 20th century, it became a bank to nobility and the landed gentry, with the Royal family becoming the most notable client.