Sir Frederick Anderson Goodwin (born 17 August 1958) is the current chief executive of the Royal Bank of Scotland group. Year 1958 (MCMLVIII) was a common year starting on Wednesday (link will display full calendar) of the Gregorian calendar. ... Chief Executive may refer to: Chief Executive of Hong Kong Chief Executive of Macau Chief Executive Officer This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... The Royal Bank of Scotland plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the UK. Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in...

Biography

Born in Paisley, Renfrewshire, Scotland, Goodwin attended Paisley Grammar School, before studying law at Glasgow University. He joined accountants Touche Ross, and qualified as a chartered accountant in 1983. He became a partner in 1988 and won his spurs as chief operating officer of the worldwide liquidation of Bank of Credit and Commerce International in 1990. At 32, Goodwin was in charge of 1,000 people with teams from London to Abu Dhabi and the Cayman Islands that eventually got back half the money from one of the most complicated, high-profile financial frauds ever. This article needs additional references or sources for verification. ... Renfrewshire (Siorrachd Rinn Friù in Gaelic) is one of 32 unitary authority regions in Scotland. ... This article is about the country. ... Paisley Grammar School, situated on Glasgow Road, Paisley, Renfrewshire, Scotland, and dating from 1586, is a Scottish non-denominational state school. ... The University of Glasgow is the largest of the three universities in Glasgow, Scotland. ... Deloitte Touche Tohmatsu (branded as Deloitte) is the second largest professional services firm in the world after PricewaterhouseCoopers and one of the Big Four auditors, a group of the largest international public accountancy firms. ... Chartered Accountant (CA) is the title used by members of certain professional accountancy associations in the British Commonwealth countries and Ireland. ... The Bank of Credit and Commerce International (BCCI) was a major international bank founded in Pakistan in 1972. ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... This article is about the capital of England and the United Kingdom. ... Abu Dhabi or Abu Zaby (Arabic language: أبوظبي) is the largest of the seven emirates that comprise the United Arab Emirates and was also the largest of the former Trucial States. ...

Goodwin was then headhunted for the job of deputy chief executive of Clydesdale Bank in 1995, then as CEO at Clydesdale Bank and Yorkshire Bank from 1996. The Clydesdale Bank PLC (Scottish Gaelic: ) is a commercial bank in the United Kingdom, a subsidiary of the nab Group. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... The Clydesdale Bank PLC (Scottish Gaelic: ) is a commercial bank in the United Kingdom, a subsidiary of the nab Group. ... Yorkshire Bank is a British regional retail bank, mainly operating in Northern England. ... Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ...

He joined RBS in 1998 as deputy CEO to now retired Chairman Sir George Mathewson. He rose to CEO in 2001. At the height of the NatWest takeover battle, there were murmurs from both the target and rival Bank of Scotland that Mr Goodwin was too young to run a major public company. He obtained his moniker Fred the Shred from City financiers, having gained a reputation for generating cost savings and effiencies whilst at Clydesdale, and continued following the acquisition of NatWest by RBS. It is rumoured that while at RBS he was mugged at one of his own cash machines after his chauffeur stopped so that he could get some cash. The assailant apparently snatched his bank card while his (Goodwin's) chauffeur waited nearby. Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... // Sir George Mathewson was born in 1940 in Dunfermline, Fife, Scotland. ... Year 2001 (MMI) was a common year starting on Monday (link displays the 2001 Gregorian calendar). ... Motto: Domine dirige nos Latin: Lord, guide us Shown within Greater London Sovereign state United Kingdom Constituent country England Region Greater London Status sui generis, City and Ceremonial County Admin HQ Guildhall Government  - Leadership see text  - Mayor John Stuttard  - MP Mark Field  - London Assembly John Biggs Area  - City  1. ... The Classic NatWest logo National Westminster Bank Plc, trading as NatWest, is a commercial bank in the United Kingdom, part of the Royal Bank of Scotland Group. ...

His mother was of German Jewish heritage, his father is a Scottish Protestant. The word Jew ( Hebrew: יהודי) is used in a wide number of ways, but generally refers to a follower of the Jewish faith, a child of a Jewish mother, or someone of Jewish descent with a connection to Jewish culture or ethnicity and often a combination... Protestantism is a general grouping of denominations within Christianity. ...

Expansion of RBS

Following the NatWest takeover, RBS made a string of further acquisitions around the world, including the purchase of Irish mortgage provider First Active and UK car insurer Churchill. It also bulked up its US Citizens Financial, Inc arm with a string of further deals. Then in May 2004, RBS said it would purchase Charter One Financial Inc. of Cleveland, Ohio for $10.5 billion. The deal, criticised by analysts for being at too high a price, spread the RBS's banking web across the Midwest for the first time, and made its U.S. banking operations No. 7 in the United States. Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...

Since Goodwin took over as chief executive, RBS's assets have quadrupled, its cost-to-income ratio has improved markedly, and profits have soared. In 2006 pre-tax profits climbed 16% to £9.2 billion with most of the growth coming from its investment banking business. RBS now numbers among the top ten banks in the world.

Banking experts have claimed that Goodwin's success in acquisitions, notably that of NatWest, lies in his disciplined approach. Before deciding to do a deal, he does an unusual amount of due diligence. In the Charter One deal, RBS claims to have spent 500 man-days (the equivalent of 100 people working for five days) examining the bank's books. Charter boosted the amount of pre-tax profit RBS gets from the U.S. and put RBS in a position to expand further.

However, following investor unrest in the build-up to RBS's acquisition of a minority stake in Bank of China in 2005 Goodwin was criticised by some RBS shareholders for putting global expansion ahead of short-term financial returns. This caused its share price to plateau at around £18 per share. Goodwin was famously accused of megalomania by some shareholders, as reported by Dresdner Kleinwort analyst James Eden (who said he thought the label was 'unwarranted'). After the Bank of China deal, he was forced to promise RBS shareholders he would not indulge in any further big acquisitions and focus instead on growing the group organically. Bank of China Limited (BOC) SEHK: 3988 (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; often abbreviated as 中行) is one of the big four state-owned commercial banks of the Peoples Republic of China. ... // Dresdner Kleinwort is the investment bank of Dresdner Bank AG, part of Allianz since July 2001. ... Bank of China Limited (BOC) SEHK: 3988 (Simplified Chinese: ; Traditional Chinese: ; pinyin: ; often abbreviated as 中行) is one of the big four state-owned commercial banks of the Peoples Republic of China. ...

Quote, 06 December 2006, Sir Fred Goodwin

" We don't need to make any big acquisitions now, and the real message in the trading update is that we are generating results ahead of expectations on a purely organic basis, and that feels like a pretty good place to be. "

The promise was broken on April 13, 2007, when Royal Bank of Scotland contacted ABN AMRO to propose a deal in which a consortium of banks including RBS, Fortis and Banco Santander Central Hispano will jointly bid for ABN AMRO and thereafter, break up the different divisions of the company. is the 103rd day of the year (104th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st Century. ... The Royal Bank of Scotland plc (Scottish Gaelic: [1]) is one of the retail banking subsidiaries of Royal Bank of Scotland Group plc, which together with NatWest, provides branch banking facilities in the UK. Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in... ABN AMRO (Euronext: AAB, NYSE: ABN) is one of the largest banks in Europe and has operations all over the world. ... Fortis (Euronext: FORA and Euronext: FORB) is a large banking, insurance, and investment management company. ... Banco Santander Central Hispano is the largest bank in Spain and is part of the Santander Group which has large scale operations in the continents of Europe and South America. ...

In June 2004, RBS admitted that it owned a Dassault Falcon 900 jet worth £17.5m for the use of Goodwin and the board, a fact not disclosed in the annual report. Based in Paris for maintenance and tax purposes, the jet is also leased to the banks clients via Lombard. Goodwin's salary, nominally around £3.5million on target including bonuses, for 2006 could top £8million in cash and shares [1] Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Dassault Falcon 900 takes off. ... Lombard Direct are a British-based finance company, that specialise in loans and insurance. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Outside Banking

Goodwin has chaired various government task forces including examining the work of credit unions and the New Deal programme. He is chairman of The Prince's Trust and a former president of the Chartered Institute of Bankers in Scotland The New Deal is the name of a welfare-to-work scheme introduced in the United Kingdom by the year-old Labour government in 1998. ... The Princes Trust is a UK based charity headed by HRH The Prince of Wales. ...

Awards

• December 2002 - Forbes "Businessman of the Year"" by the global edition, which described him as an original thinker with a fast-forward frame of mind who had transformed RBS from a nonentity into a global name by making almost inhuman demands on his staff.
• April 2003 - No.1 in Scotland on Sunday’s Power 100
• December 2003 - "European Banker of the Year" in 2003
• June 2004 - Knighted in the Queen's 2004 Birthday Honours list

This article or section does not adequately cite its references or sources. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...

Quotes

• "He’s not desperately patient" a Royal Bank executive
• "There may be some possible mercy killings" Goodwin on the possibility of RBoS being allowed to pick up one or two of the UK’s smaller financial services groups
• "It's large, it's well-ordered, there's prosperity. And we speak the same language - or almost." Goodwin on RBS's expansion in the United States. Since acquiring NatWest, Goodwin has focused most of his energy on the U.S. market. He has impressed investors with his choice of U.S. banks to buy, tending to buy small banks that have little risk
• "Anyone who thinks nothing has changed in banking for the past five years is a bit detached" Goodwin on former telecoms regulator Don Cruickshank’s claim that banks were still ripping off customers five years after his report to the Treasury

Personal life

In 1990 Goodwin married Joyce Elizabeth McLean ( A Scottish-Irish Catholic and they have two children. He apparently loves fish and chips and says one of his hobbies is doing up classic cars - the first, a Hillman Imp from the proceeds of a summer job at a Scottish power station. He presently owns a Triumph Stag. Other pastimes are shooting and golf. Hillman Imp, with the engine cover and the rear window lifted The Hillman Imp was a compact, rear-engined saloon (US: sedan) automobile manufactured under the Hillman marque by the Rootes Group (later Chrysler Europe) from 1963 to 1976. ... The tone or style of this article or section may not be appropriate for Wikipedia. ...

References

• Royal Bank of Scotland (RBS) Watch from Innercity Press - Unofficial RBS news site
• A Business Week profile of Fred Goodwin
• Profile at rbs.com
• Background on NatWest takeover
• Sunday Times article on Dassault jet
• BBC News item on Queen's Birthday Honours, 2004
• Goodwin's Turning Point from Sunday Herald - a low point for Fred, 2005