Top 300 RBS executives to share £350m

first_img RBS will unveil pay-outs totalling nearly £350m to its top 300 executives this week, even as deputy Prime Minister Nick Clegg has warned that he wants to “wring the necks” of bankers who take home “unearned wealth”.It is understood that RBS’s remuneration report, which is due for release on Friday, will for the first time provide data on the payment of the bank’s “code staff” – all executives who take potentially risky decisions.Those payments will average £1.2m-£1.5m each, although some staff will receive much more and some much less than the average.The revelations are sure to stir controversy, with Clegg telling Liberal Democrats yesterday that he wants to make banks “the servants of the economy, not the masters”.Under the terms of the Merlin deal negotiated with the Treasury, RBS will also reveal the pay of its top five non-board executives. None of them are expected to receive more than chief executive Stephen Hester’s £7.7m pay-out.The top five officers in question will include all but two of the non-board officers executives named last week as receiving millions in long-term incentive plan pay-outs.The highest paid will be John Hourican, chief of RBS’s investment banking division, who will take home a number of corporate bonds from the bank in addition to the £2.5m all-share bonus that vested last week. RBS declined to comment. KCS-content Sunday 13 March 2011 10:49 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Share Top 300 RBS executives to share £350m center_img whatsapp whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULLlast_img

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