Anger over bonus for head of nationalised RBS in UK

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Anger over bonus for head of nationalised RBS in UK

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There has been widespread fury in the UK over a bonus of more than £950,000 paid to the boss of the bailed-out Royal Bank of Scotland.

Stephen Hester’s bonus of more than 1.1 million euros is half of what he got last year, but there is outcry over a figure so high for a bank that has been 82 per cent owned by British taxpayers since the banking crisis in 2008.

One Scottish shareholder was unhappy to be losing out while Hester was being rewarded: “I’m a pensioner and a shareholder in RBS and I’ve lost quite a lot of money. I feel like writing to Mr Hester and saying: ‘I’ll have …. thousand out of your bonus’,” she said:

“This guy’s getting an extra million on top of his 1.2 million salary. I’d rather it went to the customer service people or the people in the banks than him,” said another angry man.

Hester is axing 3,500 jobs at RBS, the share price has fallen recently and the bank has failed to meet its government-set lending targets for the amount is meant to loan customers and businesses.