Goodwin insisted cash machines held 'his' notes

[AtW]

Sir Fred Goodwin employed a person whose sole job was to ensure cash machines at Royal Bank of Scotland's headquarters building only dispensed bank notes bearing his name, Parliament has been told.

Lord Myners, the City Minister pushing for Sir Fred to give up some of his £703,000-a-year pension, revealed the practice in the House of Lords yesterday as he said that he was still putting fresh pressure on the RBS board.

He told peers: "I have been advised that in the Royal Bank of Scotland's headquarters in Gogarburn, Sir Fred Goodwin employed somebody whose sole job was to ensure that bank notes dispensed from automatic telling machines in that headquarters building bore his signature and his signature alone."

Unlike English bank notes, Scottish notes are issued with the name of private-sector banks on them, either RBS, Bank of Scotland or Clydesdale Bank, with the signature of the corresponding chief executive, which in the case of RBS was Sir Fred.

If Lord Myners' claim is true, it chimes with other aspects of Sir Fred's business philosophy, including his insistence that everyone at the bank wore a tie with the RBS logo.

Lord Myners said that UK Financial Investments, the Treasury body, had asked the RBS board to explore legal channels to ensure that the pension was in accordance with the rules. "Advice is currently being received from counsel and it will be for the new board of RBS to take whatever action it judges to be necessary ... to protect the interests of RBS ... and the general public as investors in RBS."

The Liberal Democrat peer Lord Newby said that while Sir Fred was no longer signing banknotes, he was "still receiving them in copious quantities".

Sources at RBS played down the allegation, saying bank notes from all RBS cash machines in Scotland were stocked only with RBS bank notes. The RBS headquarters has just two cash machines.

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Source: http://business.timesonline.co.uk/to...cle6192228.ece

This behavior should have been enough to get him fired long time before he had chance to wreck up a fairly good bank.

[CheeseSlice]

That job must have really sucked. I wonder if he was a contractor?

[Mich the Tester]

Having spent a year working with bankers this doesn't surprise me at all. Big egos, small personalities.

[thelace]

Having spent a year working with bankers this doesn't surprise me at all. Big egos, small personalities.

penis's

[Menelaus]

Sir Fred Goodwin employed a person whose sole job was to ensure cash machines at Royal Bank of Scotland's headquarters building only dispensed bank notes bearing his name, Parliament has been told.

Lord Myners, the City Minister pushing for Sir Fred to give up some of his £703,000-a-year pension, revealed the practice in the House of Lords yesterday as he said that he was still putting fresh pressure on the RBS board.

He told peers: "I have been advised that in the Royal Bank of Scotland's headquarters in Gogarburn, Sir Fred Goodwin employed somebody whose sole job was to ensure that bank notes dispensed from automatic telling machines in that headquarters building bore his signature and his signature alone."

Unlike English bank notes, Scottish notes are issued with the name of private-sector banks on them, either RBS, Bank of Scotland or Clydesdale Bank, with the signature of the corresponding chief executive, which in the case of RBS was Sir Fred.

If Lord Myners' claim is true, it chimes with other aspects of Sir Fred's business philosophy, including his insistence that everyone at the bank wore a tie with the RBS logo.

Lord Myners said that UK Financial Investments, the Treasury body, had asked the RBS board to explore legal channels to ensure that the pension was in accordance with the rules. "Advice is currently being received from counsel and it will be for the new board of RBS to take whatever action it judges to be necessary ... to protect the interests of RBS ... and the general public as investors in RBS."

The Liberal Democrat peer Lord Newby said that while Sir Fred was no longer signing banknotes, he was "still receiving them in copious quantities".

Sources at RBS played down the allegation, saying bank notes from all RBS cash machines in Scotland were stocked only with RBS bank notes. The RBS headquarters has just two cash machines.

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Source: http://business.timesonline.co.uk/to...cle6192228.ece

This behavior should have been enough to get him fired long time before he had chance to wreck up a fairly good bank.

Egomania!

[EternalOptimist]

I think it would be a bit of a laugh to see my name come out of the atm if I was in that position.
Can it be true that he employed someone whose SOLE JOB it was to ensure it happened ?
Thats mad

[TykeMerc]

I think it would be a bit of a laugh to see my name come out of the atm if I was in that position.
Can it be true that he employed someone whose SOLE JOB it was to ensure it happened ?
Thats mad

It's rediculously unlikely as they apparently only have 2 atm's and while it takes time to do the various tasks associated with them it's far from a full time job.

When it comes to them only dispensing RBS issued notes that's hardly a shock for the corporate HQ of a note producing and issuing bank nor would it be tricky to arrange in any way.

Frankly this seems like a non story on a slow news day when the global flu pandemic victim level has almost reached double figures of people feeling a little poorly.

[Torran]

its made up . Nice story though.