Ex-RBS bosses may be sued over Goodwin pension - papers

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

PA Awards 2027: Entries for all categories now open!

PA Awards 2027: Entries for all categories now open!

The 22nd Professional Adviser Awards will take place in London next March

Professional Adviser
clock 07 July 2026 • 1 min read
Two including former police officer charged in connection with £720,000 investment fraud

Two including former police officer charged in connection with £720,000 investment fraud

Due to appear at Westminster Magistrates’ Court

Sophia Panayi
clock 04 June 2026 • 1 min read
Last chance: MPS conference to explore different approaches in shifting landscape

Last chance: MPS conference to explore different approaches in shifting landscape

Takes place in London tomorrow

Professional Adviser
clock 01 June 2026 • 1 min read