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Commercial banks

Royal Bank of Scotland Poaches "Fred the Shred"

Strategic Insights

— 1 min read

David Goodwin, known for his reputation for cost-cutting, has been appointed deputy group chief executive at the Royal Bank of Scotland. His rapid career rise, which began just three years ago, has sparked both praise and criticism. Goodwin, 39, had previously worked at the Clydesdale and was considered for a top job with the bank's parent company in Melbourne, Australia. Instead, he chose to remain in Scotland, citing his desire to continue his career with the Royal Bank of Scotland. The Clydesdale has moved quickly to announce a replacement for Goodwin as its chief executive.

Key Takeaways:

  • David Goodwin, 39, has been appointed deputy group chief executive at the Royal Bank of Scotland after a rapid career rise that began just three years ago.
  • Goodwin, known as "Fred the Shred" for his cost-cutting reputation, has worked at the Clydesdale and was considered for a top job with the bank's parent company in Melbourne, Australia.
  • He chose to remain in Scotland, citing his desire to continue his career with the Royal Bank of Scotland.
  • Goodwin's appointment has caused a stir in the banking industry, with some praising his intellect and determination while others criticize his cost-cutting measures.
  • Dr. Charles Munn, chief executive of the Chartered Institute of Bankers in Scotland, described Goodwin as "sharp" and "intelligent."
  • Those who have suffered under Goodwin's cost-cutting measures have criticized him, with one industry source stating that "he may not be the most likeable chap, but if you can achieve that success perhaps it does not matter what people say about you."

Statistics:

  • David Goodwin was 36 years old when he was appointed deputy chief executive at the Clydesdale.
  • He had worked at the accountancy firm Touche Ross for two years as a lead management consultant before joining the Clydesdale in 1995.
  • Goodwin was responsible for implementing the change to contractor management at Rosyth Royal Dockyard, where he was kept on to advise the new contractor.
  • The Clydesdale's parent company is based in Melbourne, Australia.
  • Goodwin's appointment as deputy group chief executive at the Royal Bank of Scotland is seen as a significant move in the banking industry.

Sources:

  • The Financial Times
  • The Scotsman

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