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RBS chief Stephen Hester gets £7.7m pay package
vaporate
Posts: 1,955 Forumite
RBS chief Stephen Hester gets £7.7m pay package
"Royal Bank of Scotland chief executive Stephen Hester has been awarded a pay package currently worth £7.7m for 2010.
That includes £6.5m worth of shares that won't be available for three years. Two-thirds of these are pegged to meeting management targets.
It also includes his £1.2m salary, which has remained the same since he replaced Sir Fred Goodwin in 2008.
RBS made a loss of more than £1bn last year, and is 83%-owned by the UK government."
Source: http://www.bbc.co.uk/news/business-12682395
Don't worry though, we are all in this together right?
"Royal Bank of Scotland chief executive Stephen Hester has been awarded a pay package currently worth £7.7m for 2010.
That includes £6.5m worth of shares that won't be available for three years. Two-thirds of these are pegged to meeting management targets.
It also includes his £1.2m salary, which has remained the same since he replaced Sir Fred Goodwin in 2008.
RBS made a loss of more than £1bn last year, and is 83%-owned by the UK government."
Source: http://www.bbc.co.uk/news/business-12682395
Don't worry though, we are all in this together right?
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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Don't worry though, we are all in the together right?
I dunno about you, but I'm fully dressed :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
http://www.youtube.com/watch?v=aTafZRecy2k
says it all really ..;)0 -
That is a lot of money for a civil servant. What would he have got if RBS managed to make a profit?0
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http://www.youtube.com/watch?v=aTafZRecy2k
says it all really ..;)
Great video.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Thrugelmir wrote: »If this guy turns RBS around then he'll be a hero one day.
Given the fees they charge, the margins on its loans and the lack of competition in the market place it would be amazing if it didn't do well in the longer term.0 -
[quote=[Deleted User];41826016]Given the fees they charge, the margins on its loans and the lack of competition in the market place it would be amazing if it didn't do well in the longer term.[/QUOTE]
If you think RBS is a high street retail bank then you are mistaken. At its peak it was the largest bank ( through its subsidaries) in 57 countries around the globe. With a huge investment banking operation. Hester was employed to implement a 5 year plan to downsize the bank. There are still considerable risks before the plan is complete. At the earliest in around 2014.0 -
http://www.youtube.com/watch?v=aTafZRecy2k
says it all really ..;)
... a bunch of !!!!!! who have probably never done a day's work in their lives....0 -
To be honest, it is so far so good for him and he isnt exactly getting the 7.7 million unless things turn out right. If they do turn out right then the tax payers stand to make a good profit on the shares.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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