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Commercial banks

Royal Bank of Scotland Appoints Fred Goodwin as Deputy CEO

Strategic Insights

— 2 min read

Fred Goodwin, 39, the chief executive of the Clydesdale and Yorkshire Banks, has been appointed as the deputy chief executive of the Royal Bank of Scotland. This move is seen as a step towards Goodwin likely succeeding Dr George Mathewson, the group chief executive, who is set to step down in 2000. Goodwin's appointment comes with a reported salary of $500,000 and represents a significant career advancement for the 39-year-old banking executive. The move is part of a broader reshuffle at the Royal Bank, which is also seeing the departure of several high-profile executives.

Key Takeaways:

  • Fred Goodwin, the chief executive of Clydesdale and Yorkshire Banks, has been appointed as the deputy chief executive of the Royal Bank of Scotland.
  • Goodwin is expected to succeed Dr George Mathewson, the group chief executive, when he steps down in 2000.
  • Goodwin will reportedly earn a salary of $500,000 in his new role.
  • The departure of Goodwin has led to the appointment of John Wright as the new chief executive of Clydesdale.
  • Wright, who started his banking career with the Clydesdale in Edinburgh, has most recently served as the chief executive of the Gulf Bank of Kuwait.
  • The Clydesdale is also set to lose its chairman, Lord Nickson, who will step down at the end of this year.
  • Finance chief Brian Dougherty and head of legal services and company secretary, Alan Stewart, have both left the bank, and it still needs to replace chief operating officer Graeme Willis.
  • A Clydesdale spokeswoman has denied speculation that the National Australia Bank planned to sell off Clydesdale.

Statistics:

  • 39 - the age of Fred Goodwin when appointed deputy chief executive of the Royal Bank of Scotland.
  • 2000 - the year in which Dr George Mathewson is expected to step down as group chief executive.
  • $500,000 - the reported salary of Fred Goodwin in his new role.
  • 56 - the age of John Wright, who has been appointed as the new chief executive of Clydesdale.
  • End of 1999 - the time frame in which Lord Nickson is expected to step down as chairman of Clydesdale.

Sources:

  • "Royal Bank of Scotland has appointed Fred Goodwin as deputy chief executive and probable successor to Dr George Mathewson." - a bank source.
  • "Mr Wright, 56, who started his banking career with the Clydesdale in Edinburgh, is currently chief executive of the Gulf Bank of Kuwait." - The source for the information on John Wright.
  • "A spokeswoman for Clydesdale has denied speculation that the National Australia Bank planned to sell off Clydesdale." - A Clydesdale Bank source.

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