Goodwin's 'Humiliation' a Lesson in Media Relations

The importance of maintaining good relations with the media is today underlined in a Scotsman article assessing the stripping of former banker, Fred Goodwin, of his knighthood.

Writes Terry Murden – who concludes that Goodwin “was not a Maxwell or a Madoff” – Goodwin appears to have missed numerous opportunities to keep the media 'onside', including when there was a good story to be told.

Murden tells of a tie-up between The Royal Bank of Scotland – then headed by Goodwin – and the Bank of China. But instead of it being 'Goodwin the Great', it was, instead, “the banker who thought he was above everyone else”.

For instance, instead of sharing a flight to Beijing with the media, Goodwin travelled by private jet. Describes Murden: “As a result of some surreptitious persuasion, he grudgingly relented” to speak to the media.

Read the article here