The wait is over. Former RBS chairman Sir Tom McKillop’s letter to the Treasury Select Committee has scene the light of day on who knew what when about Goodwin’s pension. Sir Tom’s letter states:
Each element of the proposed terms of departure were discussed with Lord Myners including the pension.
….that he and Bob Scott, the senior independent director, made a "full disclosure" of Sir Fred's compensation to Lord Myners
I must emphasise that there was no "elaborate ruse" by myself and Mr Scott to give Sir Fred any more than he was contractually entitled to and that we and, I believe, all the directors acted in what we judged to be the best interests of the shareholders, including the Government.
As Myners has already changed his story and misled parliament, the game is now up for this banker turned politician with no experience of due diligence.
Hopefully Myners will now be unlike any other Minister and take responsibility and resign.
UPDATE: Sir Tom McKillop’s letter