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RBS boss McEwan handed £1.5m of shares

RBS boss McEwan handed £1.5m of shares

Royal Bank of Scotland chief executive Ross McEwan has been handed £1.5 million of shares in the bank.

McEwan took over from former chief executive Stephen Hester in October, but the shares are linked to a previously agreed recruitment package dating back to when he joined RBS in 2012.

In an announcement to the stock exchange RBS said it had awarded McEwan 454,106 shares worth £1.54 million.

McEwan (pictured) will not be able to sell the shares for six months.

RBS told the Daily Telegraph that McEwan would not sell the shares while he was chief executive of the bank.

‘Ross McEwan will not sell any shares in RBS while he is chief executive of the bank. He wants everyone to have confidence that his interests are 100% aligned with our customers and our shareholders, including UK taxpayers,’ it said.

‘The bank will always automatically sell shares when they vest to cover tax liabilities.’

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