Ex- RBS CEO said obsessed with cabinets, cars, carpets and Christmas cards

Pulling Hair

An alleged obsession with filing cabinets, cars, carpets and Christmas cards might explain why his bank almost failed.

The Telegraph reports that if Fred Goodwin had obsessed about credit risk as much as he did about filing cabinets and carpets, the Royal Bank of Scotland may not have imploded so spectacularly, a new book has claimed.

The former boss of RBS, which had a balance sheet of £2 trillion, became so irritated with piles of paper on filing cabinets that he ordered thousands of custom-made round-topped storage units to be rolled out across the bank.

'Somewhere in a warehouse are thousands of old flat-top RBS filing cabinets that were not Fred-compliant', a senior manager told Iain Martin, the author of Making it Happen: Fred Goodwin, RBS and the Men Who Blew Up the British Economy being published next week.

In other examples of his peculiar micro-management, Martin found that Goodwin insisted on control of the production of the group’s Christmas card because he did not like the design another manager had chosen.

Hit the link below to access the complete Telegraph article:

Author nails Fred Goodwin’s colours to the past of RBS

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image: © stuartpilbrow

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