Johnny Cameron, former head of investment banking at RBS, has decided to step down immediately as a senior adviser to headhunter Odgers Berndtson reports CityAM.

Apparently, UK Financial Investments (UKFI), which manages the government’s stakes in part-nationalised banks, last week vetoed Odgers’ involvement in the search for its new chief executive because of his appointment.

According to CityAM, one source close to the banker said: “This is in danger of implying he can’t earn a living. If he can’t even work as a headhunter, what on earth can he be?”

Fair point; whatever the pitchfork wavers think, it’s not like the guy is facing criminal charges. What sort of thing do they have in mind for him given his previous experience??? … Maybe they actually want him to follow the Mandy model – become a life peer and join the government as an advisor… on monetary policy perhaps.