Happy Days: RBS boss Hester set for £9.6 Mn pay
Royal Bank of Scotland, the majority taxpayer-owned bank, is expected to this week announce a £9.6 million pay package for Stephen Hester, its chief executive.
The size of the deal is likely to provoke anger from observers who blame hefty pay packets for the risk taking that many believed caused the banking crisis.
Roger Lawson, of the UK Shareholders Association, said: “The Government doesn’t seem to have learnt anything, such a package incentivises reckless behaviour and encourages risk taking. It is …
Royal Bank of Scotland, the majority taxpayer-owned bank, is expected to this week announce a £9.6 million pay package for Stephen Hester, its chief executive.
The size of the deal is likely to provoke anger from observers who blame hefty pay packets for the risk taking that many believed caused the banking crisis.
Roger Lawson, of the UK Shareholders Association, said: “The Government doesn’t seem to have learnt anything, such a package incentivises reckless behaviour and encourages risk taking. It is absolutely outrageous that the Government does not use its power to bring the remuneration of bankers in these companies down to a reasonable level. Do they need to pay him this much to make him work harder?”
