Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

RBS reignites bonus row as £500m Libor fine looms

RBS reignites bonus row as £500m Libor fine looms

Royal Bank of Scotland (RBS) is preparing to pay as much as £250 million in bonuses to staff at an investment banking division heavily implicated In the Libor rigging scandal, according to the Financial Times.

The FT reported that the move comes as RBS prepares to settle with US and UK regulators over the Libor scandal with a fine expected to top £500 million, meaning the taxpayer will effectively be paying RBS investment bankers about £250 million in bonuses, while simultaneously footing the bill for Libor fixing.

The paper said the majority of the Libor fine, around £400 million, will be paid to US authorities, while £100 million could go to the Financial Services Authority.

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 Volatility is back, Europe's future & Ethical's key moment

Volatility is back, Europe's future & Ethical's key moment

This week’s episode of Investment Pulse takes a look at European prospects, FTSE volatility and whether public pressure is about to provide a push for ethical investment

Play Volatility spike: How ETFs can soften the blow

Volatility spike: How ETFs can soften the blow

ETFGI’s Deborah Fuhr discusses the role of ETFs in client portfolios during volatile market conditions

Play Winter market warmers, the post QE world and timing the Fed

Winter market warmers, the post QE world and timing the Fed

This week’s episode of Investment Pulse looks at the winding down of quantitative easing, whether to try and time a US Federal Reserve rate rise and if strong seasonal performers can reverse recent market slumps

Wealth Manager on Twitter