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29/06/2012
RBS Boss Turns Down Bonus Again
The Chief Executive of the Royal Bank of Scotland has waived his bonus for this year following the RBS computer failure that left many customers unable to access their accounts.
The bank and its subsidiaries, NatWest and Ulster Bank, are still struggling to deal with a backlog that will leave many people without access to their cash until "early next week", the bank has said.
Chief Executive Stephen Hester said it was a time of "high emotion around financial services," the BBC has reported.
He confirmed that RBS is one of the banks being investigated about attempts to manipulate Libor interest rates.
The Financial Services Authority has already slapped a fine of £290m on Barclays for the malpractice.
Mr Hester, whose salary last year was £2.9m, said he "does not deserve" and "would not take" a bonus.
He turned down a bonus last year too.
(NE)
The bank and its subsidiaries, NatWest and Ulster Bank, are still struggling to deal with a backlog that will leave many people without access to their cash until "early next week", the bank has said.
Chief Executive Stephen Hester said it was a time of "high emotion around financial services," the BBC has reported.
He confirmed that RBS is one of the banks being investigated about attempts to manipulate Libor interest rates.
The Financial Services Authority has already slapped a fine of £290m on Barclays for the malpractice.
Mr Hester, whose salary last year was £2.9m, said he "does not deserve" and "would not take" a bonus.
He turned down a bonus last year too.
(NE)
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RBS Posts Losses
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30 January 2012
Hester Bonus Rejection Praised By Miliband
The Royal Bank of Scotland chief executive Stephen Hester has been praised after caving to political pressure to turn down his £1 million bonus. It emerged on Monday morning that Mr Hestor would surrender his payment, after being criticised over his performance at the now publicly owned bank, with Mr Miliband saying he had "done the right thing".
Hester Bonus Rejection Praised By Miliband
The Royal Bank of Scotland chief executive Stephen Hester has been praised after caving to political pressure to turn down his £1 million bonus. It emerged on Monday morning that Mr Hestor would surrender his payment, after being criticised over his performance at the now publicly owned bank, with Mr Miliband saying he had "done the right thing".
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