Why failed bank executives must go

Senior management of banks that require public assistance should be replaced, says Robert Pringle, the editor-in-chief of Central Banking journal.

Royal Bank of Scotland announced on Monday the resignation of its chairman Sir Tom McKillop, its chief executive, Sir Fred Goodwin, and its head of global markets, Johnny Cameron. The British government, which is underwriting a new share issue and may end up with a 60% stake in the bank, will have a say in appointing three new non-executive directors

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