RBS will cut investment banking bonus pool

RBS - Cutting Bonuses

RBS – Cutting Bonuses

Under a pay deal agreed with the government, partly tax-payer owned Royal Bank of Scotland has decided to cut the bonuses of its investment bankers by more than a quarter in 2010.

RBS’s investment bank bonus pool was reported at £1.3 billion in 2009 while the amount has been trimmed at less than £950 million.

RBS’s chief executive Stephen Hester’s base salary will stay unchanged at £1.2 million for 2011, while he will be entitled for a bonus of £2 million for 2010 – all in shares and to be deferred up to 3 years.

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