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Wednesday, December 15, 2010
ARTICLE: Bank’s Former Chief Agrees to Pension Cut
In March, vandals smashed at least three windows on the ground floor of Mr. Goodwin’s house in an affluent suburb of Edinburgh and damaged a black Mercedes S600 parked in the driveway. Mr. Goodwin rejected repeated calls to surrender the pension payment while many other banking executives agreed to give up bonuses and pay. Newspapers reported that Mr. Goodwin and his family fled Scotland after the incident at his house. Mr. Goodwin, who was knighted by Queen Elizabeth II for services to banking in 2004, would not comment Thursday. The bank said the total value of his pension was reduced by £4.7 million ($7.7 million).
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