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…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
JPMorgan talking with investors about two synthetic risk transfers
HSBC says growing Chinese wealth fuels client investments in US
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
UBS flags 'serious' concern about new Swiss capital requirements
Lloyds bank says quarterly profits sink on higher costs
US seeks 36 months’ jail for Binance founder Zhao