Arab Today, arab today royal bank of scotland boss defends right to bonus
Last Updated : GMT 20:08:36
Arab Today, arab today
Arab Today, arab today

Royal Bank of Scotland boss defends right to bonus

Arab Today, arab today

Arab Today, arab today Royal Bank of Scotland boss defends right to bonus

London - AFP

Royal Bank of Scotland boss Stephen Hester defended his right to a bonus on Monday, one week after the bank was fined $612 million (453 million euros) over Libor rate rigging. \"I think that my bonus should be assessed on all of the things I do well and badly and judgment should be reached,\" Hester told lawmakers on the Parliamentary Commission on Banking Standards. \"It\'s not me who makes a judgment,\" he added, when questioned whether he would turn down his bonus for last year. British taxpayers own 81 percent of RBS after it was bailed out at the height of the global financial crisis in 2008 with £45.5 billion of taxpayers\' cash. \"I think that if you look at the RBS that we took on four years ago or so, that we have done huge things to rescue a situation for the company and for society and for its shareholders, which included hundreds of billions of pounds of risk that the country was exposed to which it is not exposed to any more.\" He added that he had managed to get the taxpayers \"off the hook\" for huge liabilities over the past four years. RBS said last week that it would pay £391 million to British and US regulators, becoming the third bank to admit its part in the Libor affair after Barclays and UBS. The Edinburgh-based lender has already said that it would recoup about £300 million from its staff bonus pool and by clawing back previous pay awards. RBS chairman Philip Hampton added Monday that Hester\'s pay was \"modest\" compared with his peers. \"Stephen is doing one of the most difficult demanding jobs in world business because RBS was the biggest banking failure in the world and Stephen took it on an an exceptionally difficult time,\" he told lawmakers. There is meanwhile considerable pressure for senior bank executives to take responsibility for the Libor crisis. As a result, RBS announced last week that John Hourican, chief executive of its Markets and International Banking division, was to leave the group and forfeit his 2012 bonus and long-term incentive shares. \"There had to be a serious captain-on-the-bridge departure,\" Hampton added on Monday. \"We think that appropriate accountability is sometimes necessary in all walks of life.\"

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 royal bank of scotland boss defends right to bonus Arab Today, arab today royal bank of scotland boss defends right to bonus

 



Arab Today, arab today

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 royal bank of scotland boss defends right to bonus Arab Today, arab today royal bank of scotland boss defends right to bonus

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
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