RBS

  • 26 Jun 2014 at 2:30 PM
  • Banks

Bonus Watch: R.B.S.

Chairman Sir Philip Hampton went seriously off-message yesterday, accepting the somewhat tenuous proposition that the comically-large bonuses of days gone by might have had something to do with the recent recession. On the bright side: R.B.S. has slashed bonuses by 75%, so no one needs fear another economic crisis. Read more »

  • 23 Jun 2014 at 2:42 PM

Bonus Watch ’14: RBS

Royal Bank of Scotland execs are going to receive bonuses, even though the UK government owns 81 percent of the place and it has only earned a profit six out of a possible 24 times since 2008. So this is cause for excitement. Read more »

  • 27 May 2014 at 3:34 PM

Layoffs Watch ’14: RBS

The bank is set to relieve a whole bunch of employees of the need to come into the office (ever again). Read more »

Maybe some banks pay any old bonuses they want (despite continuing to lose money) in order to keep up with the Joneses, Goldmans, and JPMorgans of the world, but RBS isn’t going to be one of them! Not while it lives under the government’s house! Read more »

  • 26 Feb 2014 at 10:45 AM

Bonus Watch ’14: RBS

Employees of the royalest bank in the UK should expect lower bonuses for 2013, but they will have the opportunity to serve tea and haul feta for customers free of charge, so things even out. Read more »

Last summer, Adrian Eady, a banker with Royal Bank of Scotland Group, was nearly crushed hauling a crate of feta cheese off a forklift truck in a North London warehouse. A few months earlier, the state-controlled bank sent Mr. Eady to wear an apron and serve cappuccinos in a cafe. Before that, he was selling novelty greeting cards in a shop. Following a political uproar over a lack of bank lending to small businesses, 81%-government-owned RBS created its “Working With You” program. All RBS corporate bankers must spend at least two days a year working for a customer free of charge. “We do anything they ask,” Mr. Eady says. “If they say ‘make the tea,’ then we make the tea.”[RBS]

Earlier this week, Royal Bank of Scotland CEO Ross McEwan announced that he had a new professional goal for himself. “My aspiration is not to run the world’s biggest bank,” he said via video posted on the bank’s website. “My aspiration is to run the best bank in the UK – nothing to do with size.” What role will the men and women who make up Team RBS come in vis-à-vis said aspirations? That’s where this conversation gets awkward. Read more »