Sir Fred Goodwin willing to step down to help RBS

Chief executive who led bank to brink of collapse wants to avoid being a barrier to Government providing £10 billion aid Patrick Hosking, Banking and Finance Editor Sir Fred Goodwin, the beleaguered chief executive of Royal Bank of Scotland, has let it be known that he will stand down if necessary to secure a rescue capital injection for the bank. Sir Fred is understood to be determined that his continuation in the job should not be a barrier to RBS gaining fresh capital either from the Government or from the private sector. Ministers, while not wishing to be accused of meddling, are sensitive about being seen to be handing over billions of pounds of taxpayers’ money to an organisation still headed by the man who led it to the brink of collapse. RBS needs about £10 billion to boost its capital strength to a level acceptable... [read full story]