Darling criticises 'tawdry' treatment of Fred the Shred

clock

Alistair Darling, former Chancellor of the Exchequer, has criticised the move to single out ex-Royal Bank of Scotland (RBS) chief Fred Goodwin by stripping him of his knighthood.

Writing in The Times, Darling, who was Chancellor during the rise and fall of RBS, said Goodwin had been treated in a "tawdry" way by MPs. The former RBS chief executive became a focal point for public anger towards bankers when the credit crisis struck in 2008. He was stripped of his knighthood yesterday by the honours forefeiture committee. The former banker presided over a huge expansion in the size of RBS between 2001 and 2008, culminating in the bank heading a £49bn consortium deal to buy Dutch bank ABN Amro at the top of the market in 2007. He was awarded a knighthood for ser...

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 Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read