Skip to main content

Bonus Watch '10: RBS

  • Author:
  • Updated:

Nothing's been decided for sure yet, but in the event you thought this was going to be your year, RBS CEO Stephen Hester would like to suggest everyone dial down the enthusiasm (and perhaps consider joining the ass-ton of your ship-jumping colleagues over at CRT. There won't be any hard feelings and you might even get paid, if cards are played right).

The subject of bonuses dominated Mr Hester's one-and-a-half hour grilling before the cross-party group of MPs. He would not comment on the total bonus pool the bank will pay, which has been estimated at £1.5bn and will be decided next month.
Mr Hester added that RBS said the bank remains a "prisoner of the market" despite being 84pc-owned by the taxpayer.
"The banking industry has invited on itself scrutiny" over bonuses, describing his policy at RBS as paying "the minimum we can get away with in the market place".

RBS chief Stephen Hester admits that his parents think he's overpaid [Telegraph via Daily Intel]