By Marcus Leach

Sir Fred Goodwin, the former chief executive at the Royal Bank of Scotland (RBS), has officially lost his knighthood.

Mr Goodwin, as he will now be known again, came in for heavy criticism over his role in the bank's near collapse in 2008. He had been awarded a knighthood in 2004 by the then Labour government.

However, in recent weeks there had been growing calls for him to be stripped of his knighthood, and the news comes days after current RBS boss Stephen Hester turned down a £1 million bonus.

He has had his title cancelled and annulled by the Queen, following advice provided by Whitehall officials.

Join us on
Follow @freshbusiness