|
Ex-Chairman of Royal Bank of Scotland says ABN was a “bad mistake” |
|
|
|
|
Tuesday, 10 February, 2009. Sir Fred Goodwin, CEO and Sir Tom McKillop, Chairman of Royal Bank of Scotland and Andy Hornby, CEO and Lord Stevenson of Coddenham, Chairman of HBOS today faced the UK Parliamentary Treasury Select Committee Inquiry on the Banking Crisis.
Sir Tom McKillop stated that the acquisition of ABN Amro was a “bad mistake”. He stated that he believed that the whole of the goodwill would have to be written off. He agreed that RBS bought ABN Amro at the top of the market was sorry "we bought".
Both of the CEO's and both Chairman agreed that compensation systems in banking need to be examined.
All four witnesses agreed that they had no formal banking qualifications.
|
|
|
|