Johnny Cameron Headed the Investment Banking Division of Rbs That... [Derived Headline]
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Summary
Johnny Cameron headed the investment banking division of RBS that was largely responsible for acquiring the toxic debts which nearly brought down the bank and required it to be bailed out by the taxpayer. That fact alone would be enough to convince most prospective employers that he should not be hired for a senior role in financial services.
After a year-long investigation, the Financial Services Authority has decided that Cameron does not meet the requirements to be deemed a fit and proper person for a "significant influence function". His agreement to a ban on taking a top job in the city or a full-time role in financial services will, however, allow him to take on part- time consultancy work. For the hundreds of thousands of employees and investors who have lost their jobs or suffered a serious shortfall in their shareholdings as a consequence of Cameron's high- risk expansion strategy, including the takeover of ABN Amro at the height of the market, this amounts to an ineffective slap on the wrist.See the full content of this document
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Johnny Cameron Headed the Investment Banking Division of Rbs That... [Derived Headline]
The FSA has not found any examples of Cameron breaching regulations and so he has not been fined, unlike two form...
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