Aug 9 2008 WalesOnline ROYAL Bank of Scotland boss Sir Fred Goodwin yesterday insisted that he remained the best man for the job despite unveiling the group’s first loss in 40 years as a public company. The NatWest and Direct Line owner reported pre-tax losses of £691m for the first half of this year thanks mainly to a £5.9bn credit crunch hit. It is the second biggest banking loss in UK corporate history, and compares with £5bn of profits the bank made this time last year. Sir Fred, who asked shareholders for £12bn in April to shore up the group’s balance sheet, said the loss was a chastening experience that the board regretted it very much. But he insisted the management team, which includes chairman Sir Tom McKillop, was best placed to bring the bank through the “very difficult market conditions”. “We are focused here very...
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