Knight no more

The former head of The Royal Bank of Scotland (RBS) is being stripped of his knighthood because of his failed leadership – complicit in running the bank into the ground. I gave a hearty “bravo!” to that before finding out that he holds many titles.  I wonder whether this act of public dishonor will impact his future employment opportunities or leadership decision making.

Here’s a little background (from Wikipedia article) on his rise to prominence and the results of his aggressive leadership style:

• December 2002 - Forbes (global edition) "Businessman of the Year", which described him as an original thinker with a fast-forward frame of mind who had transformed RBS from a nonentity into a global name.
• 2003 - 2006 - No.1 in Scotland on Sunday's Power 100
• December 2003 - "European Banker of the Year" in 2003
• June 2004 - Knighted in the Queen's 2004 Birthday Honours list, for services to banking (annulled in 2012 for playing a major role in the banking crisis)
• June 2004 - awarded an honorary doctor of Laws by the University of St Andrews
• July 2008 - awarded an honorary fellowship by the London Business School

….

From the time that Goodwin took over as chief executive until 2007, RBS's assets quadrupled, its cost-to-income ratio improved markedly, and its profits soared. In 2006 pre-tax profits climbed 16% to £9.2 billion with significant growth coming from its investment banking business. By 2008 RBS was the fifth-largest bank in the world by market capitalization. One of the factors in its rise was its enthusiasm for supporting leveraged buyouts. In 2008 it lent $9.3bn, more than double its nearest rival.

….

In August 2011, Goodwin moved out of the family home in Colinton after being asked to leave by his wife. The move followed media reports of an extra-marital affair with a colleague at the Royal Bank of Scotland.”

It just so happens that:  “once a year he would go on shooting trips to Spain with Santander chairman Emilio Botín.” 

In everything the prudent acts with knowledge, but a fool flaunts his folly. (Proverbs 13:16)

Poverty and disgrace come to him who ignores instruction, but whoever heeds reproof is honored. (Proverbs 13:18)

One who is wise is cautious and turns away from evil, but a fool is reckless and careless. (Proverbs 14:16)

The discerning sets his face toward wisdom, but the eyes of a fool are on the ends of the earth. (Proverbs 17:24)