The knighthood awarded to Sir Fred Goodwin, former chief executive of the Royal Bank of Scotland, will be referred to the honours forfeiture committee who have the power to strip him of the knighthood awarded to him in 2004 for services to banking.
Goodwin was at the helm of RBS when it was in effect nationalised in 2008 after making a £24.1bn loss. When he was forced out of RBS, Goodwin walked away with a £16m pension pot that paid out some £700,000 a year causing a public outcry and he was slow to say sorry for the record-breaking losses that he left behind at the centuries-old bank.
Senior organiser for GMB Commercial Services, Giovanna Holt said:
"This man personifies everything that is wrong in the banking world, and with capitalism itself, after leaving behind a financial disaster the repercussions of which are still being felt by British industry and the thousands of people who have lost their jobs. If he keeps his Knighthood this in itself would be a scandal". |
