Arab Today, arab today rbs boss considered resigning over bonus row
Last Updated : GMT 06:43:46
Arab Today, arab today
Arab Today, arab today

RBS boss considered resigning over bonus row

Arab Today, arab today

Arab Today, arab today RBS boss considered resigning over bonus row

London - AFP

Stephen Hester, the chief executive of Britain\'s state-rescued Royal Bank of Scotland, said on Wednesday that he underestimated a row over his huge bonus and had considered resigning. Hester bowed to public anger last month and waived his annual bonus of shares worth £963,000 ($1.5 million, 1.15 million euro) on top of his £1.2 million salary. He wrote to staff on Tuesday to explain his decision. The vast bonus -- amid ongoing government austerity and economic gloom -- had sparked outrage among trade unions and opposition politicians because RBS is 82-percent state-owned after a massive bailout. \"I understand why these issues are controversial, particularly in a time of austerity ... and of course we underestimated that,\" Hester told BBC Radio 4. \"The spotlight RBS is in makes our job more difficult, and in turn makes it harder for what we have to do for the country, but we have to overcome that. While he said he had \"great sympathy and understanding\" for people concerned about the high rewards in the banking industry, such \"societal issues\" were ultimately a matter for politicians. \"I took the judgment that it was going to be damaging for RBS to stay in the intensity of the spotlight that we had got into,\" he said, when asked about his decision to waive the bonus. \"In the end the job the job that I was asked to do, when RBS was collapsing, was about recovering this bank and helping it to succeed and that is what I really wanted to accomplish.\" The RBS chief also revealed that he had considered resigning over the controversial issue. There have been some deeply depressing moments -- not just now but over the last three years. \"In the end, I came to the conclusion that it would be actually indulgent for me to resign, and that what I ought to do was to draw on the reserves of strength I have and try and make RBS a success.\" Hester added that the current management team was tasked with defusing a balance-sheet \"time bomb\". \"When I was asked to take on this job three years ago, I had to replace the whole senior management team of RBS. \"We had to go around the world looking for the best people. Not just people to run a bank well -- but people to defuse the biggest time bomb in history, in terms of bank balance sheets. \"Those people are doing a good job. I think they deserve recognition if they do a good job. It is our task to make sure there is a connection between the job that the people are doing and how they get treated.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rbs boss considered resigning over bonus row Arab Today, arab today rbs boss considered resigning over bonus row

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rbs boss considered resigning over bonus row Arab Today, arab today rbs boss considered resigning over bonus row

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today China lifts 10-year travel ban

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:49 2017 Wednesday ,20 September

WHO urges Yemen to accept vaccines

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday