RBS was warned about Fred the Shred's leadership FIVE YEARS before bank's failure, says damning report

RBS repeatedly ignored warnings about Sir Fred Goodwin's 'assertive and robust' management style from as early as 2003, the FSA said today.

The regulator raised concerns about chief executive dominance during its meetings with the bank's chairman over the following three years.

But the FSA was assured that the rest of the board provided an adequate challenge to Sir Fred, nicknamed 'Fred the Shred', who now enjoys a pension worth £342,500 a year.    Full Read