Sir Fred Goodwin's former deputy returns to RBS
Gordon Pell, the former deputy to Sir Fred Goodwin at Royal Bank of Scotland, has today returned to the group after being appointed deputy chairman of the Coutts banking subsidiary. This comes despite the fact that he left Royal Bank of Scotland with a £580,000 pension after the clearout at the top of the management chain at RBS.
It is believed that Gordon Pell will receive a salary in the region of £30,000-£40,000 although sources close to the company are suggesting this will be donated to charity. It is ironic that one of the former leading lights in Royal Bank of Scotland is returning to the company after taking a large pension. This will do nothing to reduce the anger amongst UK taxpayers who are still reeling from the cost of the banking bailout despite the fact that many banking companies have quickly returned to a bonus culture which was prevalent prior to the credit crunch.
The return of such a high-profile figure from the past of Royal Bank of Scotland also prompts the question as to whether the UK authorities were too quick in clearing out many of the leading figures at the bank from years gone by.
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