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Classic over-reach as Goodwin boasted about RBS’s immensity

In Blog by Ian Fraser0 Comments

7th November 2015 The FactSheet compiled by RBS’s senior communications executive and deputy chief economist Andrew Wilson in February 2007 pleased his master, the bank’s chief executive, Fred Goodwin, as it put RBS’s financial success in context. But it was also incredibly bombastic and dangerously hubristic Royal Bank of Scotland issued an …

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Goodwin ponders £1bn RBS share buyback

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 10 December 2006 BANKING: TRADING UPDATE Analyst predicts 25 per cent hike in dividends as bank shelves acquisition strategy for organic growth ROYAL Bank of Scotland is expected to deliver a further 25 per cent hike in dividends and a further £1 billion …

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Fred Goodwin: laughing all the way to the golf course

In Article Library by Ian Fraser

By Ian Fraser Published: Daily Record Date: 7 June 2017 It has been one of the longest, most tortuous and expensive legal processes in British history, taking nine years and costing in excess of £190 million in legal fees. The outcome – an out-of-court settlement between investors and the bank …

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George Osborne unveils a quack cure for RBS

In Blog by Ian Fraser0 Comments

11th November 2015 It was midway between the canon of lamb and the passing of the port that George Osborne rose to his feet. Addressing a room of 350 white-tie wearing bankers, the 44-year-old Chancellor of the Exchequer seemed to have a spring in his step. Just a few weeks earlier, …

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RBS: papering over the cracks

In Article Library by Ian Fraser1 Comment

By: Ian Fraser Published: Sunday Herald Date: 17 August 2014 The decision by RBS to dissolve its Global Restructuring Group, an arm of the bank that stands accused of destroying viable UK businesses for profit, will do little to repair the damage caused to the bank’s beleaguered reputation. By Ian …

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Ross McEwan: “RBS is a yacht with a spinnaker up”

In Blog by Ian Fraser0 Comments

July 13th, 2014 On 2 May 2014, the Royal Bank of Scotland’s New Zealand-born chief executive, Ross McEwan, unveiled a surprisingly strong set of financial results for the bank that he has led since 1 October 2013. But has it really turned the corner? McEwan the and RBS’s outgoing finance …

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RBS’s annual meeting was more placid than usual

In Blog by Ian Fraser0 Comments

26 June 2014 The Royal Bank of Scotland, which last year made losses of £8.2 billion, held its annual general meeting yesterday. The shareholders’ gathering was a slightly calmer affair than some of the recent ones I have attended. Held at the bank’s sprawling, campus-style “world headquarters” at Gogarburn, near Edinburgh – itself a …

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Shredded: Inside RBS, The Bank That Broke Britain

Ian Fraser’s Shredded: Inside RBS, The Bank That Broke Britain has been named as a Book of the Year by the Financial Times, Bloomberg, The Week and Huffington Post and one of best books of the decade by the Financial Times. Shredded has also been described as the “definitive account” of the Royal Bank of Scotland’s collapse, one of the five best …

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Thousands of staff line up to sue RBS

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 27 April 2014 A third of the 12,000 plus individuals who have signed up to sue the Royal Bank of Scotland over its “misleading” £12.3 billion 2008 rights issue are current or former members of staff at the bank. RBoS Shareholders’ Action Group, …