View the article online at http://citywire.co.uk/wealth-manager/article/a659490
RBS execs to divvy up £6m in share awards
by Sarah Miloudi on Feb 18, 2013 at 07:37
A handful of Royal Bank of Scotland executives are to share rewards of up to £6 million - just weeks after the bank's stinging £390 million rate rigging fine.
According to The Times, the share awards will be divided up among a small number of staff, but could stoke further controversy coming in the wake of the penalty from UK and US regulators.
Moreover, the staggering messages about Libor manipulation at RBS - including internal notes like 'It's amazing how Libor fixing can make you that much money' published on the CFTC website - are still fresh in the minds of shareholders and members of the public.
Stephen Hester, the bank’s chief executive, could also come under pressure for the £780,000 of shares he is due to receive next month.
Although Hester (pictured) will take delivery of the shares in March, they form part of his 2010 bonus award.
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