Royal Bank of Scotland's (RBS's) chief executive is expected to receive a £780,000 bonus next month, despite the recent LIBOR scandal which has tarnished its reputation.
Stephen Hester, chief executive of taxpayer-funded RBS, is expected to pocket the six figure sum next month as part of a reward scheme for his performance in 2010, Sky News reports. Sir Philip Hampton, the bank's chairman, told the Guardian the bank does not intend to block the bonus. The bonus only relates to his work in 2010, with his bonuses for 2011 and 2012 waived following political outcry. The award comes at a bad time for the bank. Last week RBS was fined a collective £391m for its role in the LIBOR scandal, with the FSA's investigation finding over 200 "inappropriate" rate...
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