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Goodwin Fred Biography

Scottish chartered accountant and former banker who was CEO of the Royal Bank of Scotland Group (RBS) between 2001 and 2009. He was a key figure in the global financial catastrophe that emerged in September 2008. From 2000 to 2008 he presided over RBSs rapid rise to global prominence as the worlds largest company by assets (£1.9 trillion), and fifth-largest bank by stock market value, mostly through acquisition (notably the assets of Dutch bank ABN Amro). It was an empire built on sand, and Goodwin also presided over its even more rapid fall as RBS was forced into effective nationalisation in 2008. On 11 October 2008, Goodwin officially announced his resignation as chief executive and an early retirement, effective from 31 January 2009 – a month before RBS announced that its 2008 loss totalled £24.1 billion, the largest annual loss in UK corporate history. His disgrace was capped by the revocation of the knighthood that was awarded to him in 2004. Link to Wikipedia Read less