RBS boss says even his parents thinks he earns too much!

From the BBC:

The chief executive of Royal Bank of Scotland (RBS) has defended his bank's pay structure to a committee of MPs.

Stephen Hester faced several questions from the Treasury Committee on expected bonuses and on his own pay package, worth a potential £9.6m.

He said that he was offered the "going rate" for his job but added that even his parents think he earns too much.

He said in some way RBS had, which is 84%-owned by the taxpayer, "led the way" on pay reform.

Mr Hester said that RBS had historically paid bonuses in cash but the bank had now changed to paying large parts of bonuses in shares.

He is one of three bank bosses being questioned by the committee. The other two are Eric Daniels from Lloyds and Gary Hoffman from Northern Rock.

Full Article:
BBC News - RBS boss says even parents think he earns too much


Oh how I chuckled....

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This is so funny - wonder if he will be taking a paycut anytime soon - hmm think we can all answer that one

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Thanks
Clive

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