In the Spotlight: Former RBS executive faces action from City regulator
Johnny Cameron, Royal Bank of Scotland's head of global banking and markets until the bank's near-collapse in 2008, had no choice but to stand down from his post after the financial crisis forced RBS to turn to the Government for a bailout. It was the huge investments made by his division that threatened to blow up the bank.
Almost two years later, the Financial Services Authority is also seeking to hold him to account. It emerged yesterday that the regulator is close to announcing a bar on Mr Cameron taking another senior position in the City – not that any such appointment was imminent.
Still, unlike some of the prominent scalps taken by the crisis – not least Mr Cameron's boss, Sir Fred Goodwin – the departure of the former Kleinwort Benson banker was not celebrated by many.
Mr Cameron, who joined RBS in 1998, just in time to help it swallow up NatWest, was well-liked by staff at the bank and in the wider City environment in which he operated.
A Scottish aristocrat, Mr Cameron also had as much reason as many to mourn the humbling of one his native country's most august institutions. Still, neither the fondness with which he was regarded, nor his profound sadness at RBS's fate, would save him from opprobrium in the wake of the bank's capitulation to the credit crisis.
He has since been foiled in two separate attempts to restart his career, with the FSA effectively stopping him joining a private equity firm and the Government nixing a job at a top City headhunter with public sector contracts.
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 5 Terror threat level raised to severe as PM warns Isis risk could last for decades
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Terror threat level raised to severe as PM warns Isis risk could last for decades
Isis 'A Message in Blood' video shows beheading of Kurdish man in Iraq
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...