Thursday, February 2, 2012

Fred Goodwin

Frederick Anderson Goodwin (born 17 August 1958), is a Scottish chartered accountant and former banker who was chief executive of the Royal Bank of Scotland Group (RBS) between 2001 and 2009.

From 2000 until 2008 he presided over RBS's rapid rise to global prominence as the world's largest company by assets (£1.9 trillion), and fifth-largest bank by stock market value and its even more rapid fall as RBS was forced into effective nationalisation in 2008.

On 11 October 2008, Goodwin officially announced his resignation as chief executive and an early retirement, effective from 31 January 2009 – a month before RBS announced that its 2008 loss totalled £24.1bn, the largest annual loss in UK corporate history.

From January 2010 he was employed as a senior adviser to RMJM, an international architecture firm. He left the position after less than a year.

Goodwin's knighthood, awarded in 2004, was "cancelled and annulled" on 1 February 2012.

Born in Paisley, Renfrewshire, Goodwin is the son of a Scottish electrician and was the first of his family to go to university, attending Paisley Grammar School before studying law at Glasgow University. He joined accountants Touche Ross, and qualified as a chartered accountant in 1983. Between 1985 and 1987 he was part of a Touche Ross management consultant team at Rosyth Dockyard, and became a partner in Touche Ross in 1988.

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