PART-nationalised RBS has handed new recruit Ross McEwan £3.2 million in shares to compensate him for awards he lost on leaving Commonwealth Bank of Australia.
The shares will start vesting next June, and will be given to him in batches until August 2015.
In all, Mr McEwan, a New Zealand national, has been given 1.5 million shares on taking up his post as head of the Edinburgh institution's retail banking arm.
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