Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

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.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Play JP Morgan AM's Conte: why France is my biggest overweight

JP Morgan AM's Conte: why France is my biggest overweight

The European Smaller Companies trust fund manager is also finding opportunities within the European IPO market.

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter