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06 Apr 2009
Royal Bank of Scotland has asked senior KPMG partner Brendan Nelson to join its board and head up its audit committee.
Nelson has been approached to advise the bank in the capacity of a non-executive director. The Sunday Telegraph reported that he is interested in the position, but has not formally accepted the offer.
It is hoped that Nelson will help the beleagured bank sort out its executive remuneration debacle. Over 90 oer cent of RBS's shareholders voted against the nationalised bank's latest remuneration report at an annual meeting on Friday.
Lloyds Banking Group is also keen to hire some fresh talent to its board. The Sunday Times reported that it is pursuing Bupa chairman Lord Leitch as a new senior independent director.
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Bankers' lack of ability
One of the main reasons for the banks poor performance has been the almost total lack of any professional training and knowledge in basic finance. I would like to pose the open question "What qualifications does the average RBS manager have?" Could we have fifures on the number of those with even a basic accountancy or banking qualification? Why are these not mandatory?
Posted by: Philip Jackson, 09 Apr 2009 | 00:00