Sir Fred’s honour shredded
FORMER Royal Bank of Scotland chief executive Sir Fred Goodwin has lost his knighthood.
Sir Fred ( right), who was heavily criticised over his role in the bank’s near collapse in 2008, was given the honour by the Labour government in 2004.
He will now have his title removed by the Queen following advice by Whitehall officials.
In the past, honours have only been taken from those convicted of serious crime, but there has been a growing clamour for Sir Fred to be stripped of his honour.
He oversaw a number of acquisitions that made Edinburgh-based RBS one of the world’s biggest banks, but his deal to buy Dutch rival ABN Amro in 2007 led to the bank being bailed out with £45billion of taxpayers’ money.