The former chairman of Royal Bank of Scotland, Sir Tom McKillop, and other former board directors could face legal action for agreeing a £16m "golden parachute" pension for Sir Fred Goodwin, reports The Guardian .
At an often fractious meeting of the Treasury select committee, McKillop and former RBS director Bob Scott were blamed for allowing Goodwin to retire at 50 rather than forcing him to resign. As a result Goodwin's pension pot was doubled. The assertion by John Kingman, chief executive of UK Financial Investments, the body which manages £37bn of taxpayer funds in banks, exonerated Lord Myners, the City minister whose judgment has been questioned. Goodwin has insisted Myners approved the pension payout agreed over a fraught October weekend when RBS was on the verge of collapse. The minist...
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