Images of protesters smashing the windows of a Royal Bank of Scotland branch in the City of London last week were a reminder of the importance of a company’s reputation.
Fairly or unfairly, RBS and its former chief executive, Sir Fred Goodwin, have become synonymous with the finance industry’s failings in the eyes of many following Sir Fred’s refusal to surrender his annual £703,000 pension in spite of the bank’s near-collapse. It is likely to take years for RBS to rebuild its brand, at a cost experts have pegged at several hundred million pounds.
