Sunday, 9 January 2011

If he wants a pay packet of £7 million, then he should work for the private sector

Public sector employee, Stephen Hester -  the chief executive of Royal Bank of Scotland - will pick up £6.82 million this year.

His remuneration package will include:

  • A 2010 performance bonus of £2.5 million:
  • A £1.2m annual salary: 
  • £420,000 worth of pension contributions. (Thankfully, he is not part of the bank's regular pension scheme. )
Since he is likely to pick up something similar next year, I wonder whether it would be cheaper to fire him right now.

Come on, Mr. Cameron, this won't be the most difficult problem to cross your desk this week.

4 comments:

WF said...

Great photo.

9 January 2011 at 22:35
Anonymous said...

RBS is sitting on a variety of assets (let's call them med bonds) which it cannot afford to do a mark-to-market valuation on.

These financial bodies are run for the (sole?) benefit of senior management; who will quietly step away when the mess can no longer be swept under the carpet.

9 January 2011 at 23:00
Vodka drinker said...

So he is a hunter.....Steve "the hunter" Hestor

11 January 2011 at 05:22
Anonymous said...

The time for remorse is over so pay up.

12 January 2011 at 12:51

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