Goldman Sachs' Royal Mail Role 'Like Ronnie Biggs Advising On Security'

Vince Cable’s decision to hire Goldman Sachs to advise on pricing Royal Mail for its stock market entry came under fire from MPs, who compared it to giving Great Train Robber Ronnie Biggs a job with security giant Securicor.

Adrian Bailey, chair of the Business select committee, attacked officials’ “astonishing” unawareness of the fact that the bank had been finalising a $7.5 million payout after undervaluing the eToys Inc in 1999.

He said: “Appointing Goldman Sachs on a flotation given this court case is a bit like asking Ronnie Biggs to have an appointment at Securicor”

Read more: Goldman Sachs’ Royal Mail Role ‘Like Ronnie Biggs Advising On Security’, Warn MPs.