ROYAL Bank of Scotland has come under fire for paying its chief executive a bonus of nearly £800,000 just weeks after it was fined almost £400 million for rate-rigging.
ROYAL Bank of Scotland has come under fire for paying its chief executive a bonus of nearly £800,000 just weeks after it was fined almost £400 million for rate-rigging.
STEPHEN HESTER: Chief executive took a bonus and pension of £6.5 million in 2010 on top of a £1.2m salary
Custom byline text:
Helen McArdle
Stephen Hester will be given about £780,000 in shares next month, as part of a reward scheme for his performance in 2010.
Details of the bonus come shortly after RBS agreed to pay £391m to the British financial watchdog after admitting staff manipulated the Libor rate, a key benchmark interest rate on which trillions of pounds worth of deals are based.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
