Business correspondent and personal finance editor since 1998, four times Scottish financial writer of the year, and once journalist of the year. Likes bringing business personalities to life, responding to unhappy consumers, and investigating bust businesses and the murkier corners of money. Highly commended in the 2013 UK Regional Press Awards.
That is the warning from the RBoS Shareholders Action Group which has finally lodged its £4 billion claim against four former RBS directors on behalf of 12,000 small investors and 100 large shareholders including local authority pension funds, churches, charities and several major Scottish institutions.
But there is no such prospect ahead for former shareholders in the crashed HBoS, whose mismanagement was yesterday detailed in damning terms for the first time in a parliamentary report.
However, in his judgment, Lord Hodge said the society's chief executive Gerry Kay had failed to establish he had been misled before agreeing to hand over a £250,000 commission payment to the scheme's promoters in 2010.
The mutual society, which made a £931,000 profit last year, had been threatened with a £1m bill after terminating the five-year contract after one year, when the scheme attracted just £440,000 of savers' funds against a target of £5m.
But other providers welcomed the move by HMRC to accelerate the industry's move to "clean" fund investments, where typically a 1.5% annual charge is halved to 0.5%, with a fee charged on top for using the platform.