We all know that RBS has today been hit with a massive £390 million fine for it’s part in a global interest-rate rigging scandal
What may be less well-known is the bank’s links to the Royal Family and their various “Trusts”.
According to their website, RBS have been a major donator to The Prince’s Trust for over 10 years:
The Charities Commission website also give details of the Trust’s former Chairman who was none other that disgraced RBS banker, Fred Goodwin
” The Prince’s Trust Council has appointed seven sub-committees to help with the execution of its responsibilities.
Members are appointed by The Prince’s Trust Council and each Sub-Committee is chaired by a Trustee. The Sub-
Committees meet regularly and members during 2007/08 were:
• Finance and General Purposes: Sir Fred Goodwin (Chairman), Major-General Arthur Denaro, Patrick Passley,
Heather Hancock (until April 2007) and Charles Dunstone (from April 2007).
• Audit: Heather Hancock (Chairman), Stephen Hall, Leslie Ferrar, David Ladipo (from September 2007), Shonaig
MacPherson (from March 2008) and Michael Maton (from March 2008).
• Investment: Michael Marks (Chairman), Stephen Hall, Sir John Riddell, Lord Young of Graffham,(retired June
2007), Peter Mimpriss.
• Development: Lord Young of Graffham (Chairman retired June 2007), Lloyd Dorfman (Chairman), Michael
Marks, William Hughes (retired July 2007), Peter Mimpriss.
• Remuneration: Sir Fred Goodwin (Chairman), David Dobbin, Major-General Arthur Denaro.
• Nominations: Sir Fred Goodwin (Chairman), Diane Louise Jordan, Heather Hancock.
• Trading: Charles Dunstone (Chairman), Martina Milburn, Michael Potter (retired July 2007), Rona Martin,
Martina King (retired July 2007), Michael Mercieca, Nicolas Coleridge (retired July 2007), Russell Chambers
(retired July 2007), Matthew Freud (retired July 2007), Andrew Tilley (retired July 2007).”
We then find that Fred Goodwin also administered Her Maj’s Trust :
” During the year, the activities of The Queen’s Silver Jubilee Trust, a registered charity number 272373, were
administered alongside those of The Prince’s Trust. The principal contact address for The Queen’s Silver Jubilee
Trust is 18 Park Square East, London NW1 4LH. Sir Fred Goodwin sat on the Administrative Council of The
Queen’s Silver Jubilee Trust and the Council of The Prince’s Trust during the year. The Prince’s Trust applies to
The Queen’s Silver Jubilee Trust for a grant each year. The grant received from this charity in the year was
£1,200,000 (2006/07: £1,200,000).”
Although Goodwin was eventually sacked from his role , in 2009 Charlie was still hobnobbing with him as this report details:
“Prince Charles risked public anger yesterday by entertaining disgraced banker Sir Fred Goodwin at Clarence House.
The invitation was to mark the end of the former Royal Bank of Scotland chief’s six-year tenure as chairman of Charles’s charity, the Prince’s Trust.
Afterwards the heir to the throne thanked Sir Fred, who led RBS into the worst financial crisis of its history, for all his ‘hard work and support’ for the youth charity.
Sir Fred became a national pariah after it emerged he was allowed to retire at 50 with a £703,000-a-year pension, despite RBS needing a £ 20 billion taxpayers’ bailout after his time in charge.
He quickly agreed a controversial pension deal which effectively doubled his pot and let him start collecting despite his young age.
The pension was later reduced to £550,000 a year after the Scot took a tax-free lump sum of £2.7million, and he recently ‘ volunteered’ a further cut of £208,000 a year.
His family home in Edinburgh was attacked following the public outcry over his pension, and he is believed to have spent most of his time since in a luxury hideaway on the French Riviera. He flew back to France from Heathrow yesterday with his wife, Lady Joyce.
A Clarence House spokesman said: ‘Sir Fred Goodwin took the post of chairman of the Prince’s Trust in 2003 on an initial single three-year term.
‘He agreed to take on a second term following that which is due to come to an end this summer.
‘During his time as chairman he has helped to improve the lives of more than 200,000 young people and the Prince of Wales is very grateful for all his hard work and support.’
A spokesman for the TaxPayers’ Alliance said of the visit: ‘A lot of right-minded people would see this as completely inappropriate.
‘A huge amount of taxpayers’ money had to go into cleaning up the mess left by Sir Fred, and even more has been exposed to a high level of risk. This shows a staggering lack of judgment on the part of Clarence House.’
The Prince has appointed Charles Dunstone, chief executive of The Carphone Warehouse, as the new chairman of The Prince’s Trust.”
Not content with taking payments from wrinkly rogue Shirley Porter, we now find Charlie embroiled in a global banking scandal.
But the real question that remains is could there more to RBS and it’s role as the Royal Family’s charitable bankers than meets the eye?
Very possibly, yes….