Chapter 24

Fred ‘the Shred’ Goodwin

Fred Goodwin was the son of an electrician and the first person in his family to go to University, where he studied law at Glasgow University.

His work at Touche Ross got him noticed when he was involved in the due diligence on the takeover of Clydesdale Bank by the National Australia Bank from what was then Midland Bank.

Don Argus, an executive at NAB, noticed Goodwin and offered him the Deputy Chief Executive position at Clydesdale Bank.

Goodwin claims to have a “five-second rule”, which dictates that his first instinct is the right one and this was the first example of that as he accepted the position on the spot.

This process highlighted that he would allow his chimp to make the decision and latterly, his psychopath to see it through whether it was the right or wrong decision.

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