• pink piggy banks
    Permalink Gallery

    RBS gives 10 executives £5.5m in allowances to sidestep EU bonus cap

RBS gives 10 executives £5.5m in allowances to sidestep EU bonus cap

Ten top executives at Royal Bank of Scotland have been handed almost £5.5m in shares this year as allowances to sidestep the EU bonus cap.
The latest disclosure to the stock market by the 80% taxpayer-owned bank shows that the 10 received £1.9m in these allowances for the last four months of 2014. These awards followed £3.5m handed out in August, to cover the first eight months of the year.
Only one of the 10 sits on the board: the finance […]

  • Royal Bank of Scotland chief executive Ross McEwan
    Permalink Gallery

    New RBS finance chief £1.9m ‘golden hello’ reigniting controversy over bonuses

New RBS finance chief £1.9m ‘golden hello’ reigniting controversy over bonuses

Royal Bank of Scotland has courted further controversy over ‘fat cat’ pay after handing a £1.9million ‘golden hello’ to its new finance chief.
Ewen Stevenson was awarded 584,506 shares on his first day in the job on Monday to compensate him for payments he forfeited at his previous employer Credit Suisse.  RBS shares are currently worth 326p each, up 2.3p on the day. Stevenson will enjoy an annual package of £1.9million a year, including a £800,000 salary, £280,000 in pension […]