Tuesday, 17 March 2009

Job satisfaction

Robert Peston, man with the government's ear, sympathises with Lord Myners, man with a heavy workload, for overlooking asking the RBS board how much Fred Goodwin's pension would actually be when told it would be enormous.

However, Peston (reporting on radio) does lay opprobrium pretty heavily on certain members of the former RBS board.

The latest revelations come from today's Treasury Select Committee interview with Myners. It appears Goodwin took away not only £4 million up-front cash from his pension pot, but was also credited with twenty years previous RBS service, which he had not served.

It's been clear since reporting of the issue arose that the previous RBS board, particularly the Chairman and the Remuneration Director, went to frenetic lengths while the bank collapsed to stitch up an outrageous deal with Goodwin. I see no mention of what Tom McKillop and Bob Scott walked away with. Follow more at Coffee House.

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