Sir Fred Goodwin, the former chief executive of Royal Bank of Scotland, has agreed to hand back more than a third of the controversial pension he was paid after leaving the stricken bank last year.
Sir Fred was pilloried for accepting a £703,000 annual pension from RBS, which was brought to the brink of collapse last October by a number of rash acquisitions that he spearheaded, including the purchase of Dutch bank ABN Amro in 2007.
The banker and his family have been in hiding since news of the pension payment broke and his Edinburgh home was attacked in March. He is thought to have been in the UK for most of the time, although he has spent time in Turkey and Spain.
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