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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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On the trail of Fred the Shred

In Article Library by Ian Fraser2 Comments

By Ian Fraser Published: Sunday Herald Date: 8 June 2014 Ian Fraser’s new book, Shredded – Inside RBS: the Bank that Broke Britain, has been acclaimed as the definitive account of the crisis. Here he reflects on the 13 things he learned along the long, hard road to publication (1) …

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Deloitte and the demise of RBS

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: Sunday Herald Date: 18 December 2011 One of Fred Goodwin’s first acts on being appointed chief executive of the Royal Bank of Scotland on March 6, 2000 was to sack PWC as auditors and to wheel in his ‘alma mater’, Deloitte & Touche. Ex-insiders suggest this …

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RBS: Inside the Bank That Ran Out of Money

In Blog by Ian Fraser1 Comment

21 November 2011 A documentary on which I worked as senior researcher and lead consultant is to be shown on BBC2 nationally on December 5th. The one-hour BBC film charts the rise and fall of the Royal Bank of Scotland, starting with its £21bn acquisition of NatWest in February 2000 …

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O’Neil appointment confirms UKFI’s warped priorities

In Blog by Ian Fraser9 Comments

19 July 2010 The coalition government of David Cameron and Nick Clegg is reverting to type where appointments to UK Financial Investments, the vehicle established by the previous government to hold the public’s stakes in bust lenders including RBS and Lloyds Banking Group. Most of the people who work for …