Coutts boss Peter Flavel leaves £910k-a-year job over 'de-banking' row

The juggling Coutts boss who dropped the ball: Pilates-loving father-of-three Peter Flavel whose Aussie parents owned a pub and who boasted about WFH from his £2m west London flat leaves £910k-a-year top job over ‘de-banking’ row

• The 63-year-old Australian is taking ‘ultimate responsibility’ for the scandal

Peter Flavel is set to be remembered as the juggling banker who dropped the ball after quitting as Coutts boss following the Nigel Farage ‘de-banking’ row.

The 63-year-old, who is thought to have earned £910,000-a-year as head of the private bank, is taking ‘ultimate responsibility’ for the scandal.

The married father-of-three joined Coutts as chief executive in March 2016 and was hailed for having overseen a ‘significant transformation’ in the bank’s performance. 

He has previously spoken about being a fan of Pilates and boasted of the joys of working from home at his £2million west London flat, even before the Covid pandemic.

Mr Flavel was born in Strathalbyn, near Adelaide, South Australia, on his grandparents’ stud farm and his first job was cleaning glasses in his parents’ pub.

Peter Flavel, who is thought to have earned £910,000-a-year as boss of Coutts, is taking ‘ultimate responsibility’ for the Nigel Farage ‘de-banking’ scandal

The 63-year-old Australian, pictured with King Charles last year, was previously hailed for having overseen a ‘significant transformation’ in the bank’s performance

Mr Flavel was present in November 2022 as King Charles was presented with a maquette of Queen Elizabeth II

Prior to moving to London to join Coutts, Mr Flavel – pictured in 2010 – previously lived in Singapore where he worked for both Standard Chartered and JP Morgan

A profile of Mr Flavel by Coutts’ owners, NatWest Group , praised him for having ‘revived Coutts’ branding and image to be more warm and modern, while taking pride in its history’

Mr Flavel boasted of the joys of working from home at his £2m west London flat, even before the Covid pandemic. He is believed to have since moved to a more expensive flat

As a sports-mad schoolboy, he played both cricket and hockey throughout his time at Prince Alfred College.

According to the school’s website, a serious knee injury dashed his hopes of playing hockey at the highest levels and so he started coaching.

He went on to study at University of Adelaide and University of Melbourne, before also attending Oxford University and Harvard University.

He worked in commercial law before embarking on a 30-year career in finance.

Prior to moving to London to join Coutts, he previously lived in Singapore where he worked for both Standard Chartered and JP Morgan.

A profile of Mr Flavel by Coutts’ owners, NatWest Group, praised him for having ‘revived Coutts’ branding and image to be more warm and modern, while taking pride in its history’. 

During an interview with The Times, conducted in February 2019, Mr Flavel displayed his juggling skills with three multi-coloured balls, despite admitting: ‘I’m not very good at this’.

He explained how he pronounces his surname like ‘naval’. ‘Come on, I’m an Aussie. It’s like it’s got a ‘y’. Flay-vel,’ he told the newspaper.

Mr Flavel bemoaned how, when he arrived at the bank, there ‘wasn’t enough debate about issues’.

He added: ‘People were quite polite and even if they disagreed, they wouldn’t say anything. I want them to argue.’

He also spoke about how he did Pilates – due to his ‘ruined’ knees from hockey – and how he tried to work from home once a month.

‘Sitting there on our little balcony overlooking the garden fills you with so many new ideas,’ he said.

Mr Flavel is believed to have since moved to a more expensive flat in west London.  

The newspaper interview also revealed he rose at 6.30am and was in the office by 8am.

He was said to be a fan of Monty Python, Van Morrison and author George Johnston, but was not the owner of a car. 

Mr Flavel recently shared LinkedIn posts from Coutts about World Ocean Day and Pride.

‘We believe everything we do should play a part in benefitting the environment and people of all identities and backgrounds,’ read one.

A quote from Mr Flavel on Coutts’ website also states: ‘Each and every one of us has the power to create change. And now, more than ever, is the time to do just that.’

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