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05 October 2023

Former RBS chief gets new job in architecture

Former Royal Bank of Scotland boss Fred Goodwin has a new job working for an architectural firm, the BBC said Friday.

Goodwin, who came to symbolise the greed of bankers blamed for Britain's worst financial crisis in decades, has been appointed as a senior adviser with architectural practice RMJM.

The Edinburgh-based company has offices in 17 countries worldwide, including bases in Shanghai, Dubai and New York.

RMJM was involved in designing the controversial Scottish Parliament building.

A spokesman for Goodwin, dubbed "Fred the Shred", said he did not want to comment on the appointment.

RMJM will design the Athletes' Village for the 2014 Commonwealth Games in Glasgow.

"This is a very odd appointment and will confuse people," said Michael Connarty, the lawmaker for Linlithgow and East Falkirk.

"People wonder what he knew about banking and will now wonder what he knows about building."

The Royal Bank of Scotland was undone by the global credit crunch and its takeover of Dutch banking giant ABN Amro at the top of the market in 2007 just before the financial crisis ravaged markets and economies across the world.

Some observers blame the banking sector's bonus culture for encouraging excessive risk-taking and helping to tip the world economy into recession.


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