2009-03-25 13:59:32 -
LONDON (AP) - Vandals attacked the home of former Royal Bank of Scotland head Fred Goodwin early Wednesday, smashing windows at the house of the ex-CEO whose 700,000 pound ($1.2 million) annual pension has prompted public outrage.
Police said they were called to the house in Edinburgh, the Scottish capital, early Wednesday.
Windows in the brown stone home were broken, and there was a hole in the rear windshield of a Mercedes-Benz S600 parked in the driveway.
Goodwin resigned as chief executive last year as RBS ran into severe difficulties and had to be propped up by the British government.
Last month, RBS reported a loss of more than 24 billion pounds ($35 billion) in 2008, the largest annual loss in British corporate history.
Dubbed «Fred the Shred» for his ruthless cost-cutting, Goodwin rejected government pressure to accept a reduction in his early retirement deal. Government officials said they were trying to challenge his pension contract in court but haven't announced any action.
Goodwin led the acquisition of Dutch rival ABN Amro in 2007 for 49 billion pounds ($71.4 billion). The deal helped bring RBS to near collapse after the credit crunch exposed the Dutch bank's weak balance sheet.
The British government, which kept RBS afloat with a 20 billion-pound ($29 billion) bailout, is expected to soon raise its stake to 68 percent of shares.
RBS spokesman Neil Moorhouse said the company, which has provided some security for Goodwin, was aware of the incident.
«There are temporary security arrangements in place for Sir Fred, as is normal practice for departing executives. They'll be reviewed in the coming months, depending on the security situation,» Moorhouse said.
No one was believed to be home when the house was vandalized, according to police.
In the U.S., death threats have been pouring against AIG executives since a controversy over bonuses paid with taxpayer bailout money broke.
Corporate officials have advised employees to avoid wearing the company logo, travel in pairs at night and park in well-lit areas.
