Bad bank chief "only top RBS exec to get bonus this year"

London

THE only member of Royal Bank of Scotland Group plc's (RBS) executive committee likely to get a bonus this year is the man charged with getting rid of the lender's unwanted assets, according to a person with knowledge of the matter.

While Rory Cullinan, who heads RBS's bad bank, will receive a payment, the nine other members of its top leadership team won't, including chief executive officer Ross McEwan and chief financial officer Ewen Stevenson, said the person.

Bonuses at Mr Cullinan's division, which sold off more assets than expected, are likely to exceed other units that were hobbled by poor performance and fines, said the person. The fines mean Edinburgh-based RBS will probably cut the size of its overall b…