Buyer at the bank

26 February 2009
It will be hard to ignore the fall out from the Royal Bank of Scotland's record corporate loss of £24.1 billion today. This is coupled with the news of former chief executive Sir Fred Goodwin's whopping annual pension, estimated by the BBC to be around £650,000. These numbers are of course staggering. Recently I was speaking to a purchasing director on the huge losses posted by European banks, and he believes that they would be in better shape had a procurement professional been in charge during the good times. Would RBS have lost so much money with a buyer at the helm?
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