Royal Bank of Scotland Group Plc, Britain’s biggest government-owned lender, fell in London trading after Chief Executive Officer Stephen Hester quit and the company started to cut 2,000 investment-banking jobs.
Chris Willford, former group finance director at nationalized lender Bradford & Bingley Plc, may be fined as much as 100,000 pounds ($157,000) for risk management failures after losing a court appeal today.
Royal Bank of Scotland Group Plc, Britain’s biggest government-owned bank, unexpectedly said Chief Executive Officer Stephen Hester will step down at the end of 2013 as the U.K. prepares for a possible share sale.
The Prudential Regulation Authority may be spurred to intervene directly in the Co-Operative Bank Plc, as the U.K.’s new bank supervisor faces its first test of credibility barely a month after it was created.
The British government’s decision to strip former Royal Bank of Scotland Group Plc Chief Executive Officer Fred Goodwin of his knighthood reflects a turning point for bankers as politicians and voters step up criticism of pay and performance.
Fred Goodwin, Royal Bank of Scotland Group Plc’s former chief executive officer, was stripped of his knighthood by the U.K. authorities after he led the 285-year-old lender into the world’s biggest bank bailout.
The U.K.’s Financial Services Authority refused to release questions it asked former Royal Bank of Scotland Group Plc Chief Executive Officer Fred Goodwin, regarding the bank’s near collapse, saying it’s his own personal information and may deter others from cooperating.