Scotsman.com (Free subscription) | 12/03/2009
ROYAL Bank of Scotland chief executive Stephen Hester and the entire board would be forced to stand down if Chancellor Alistair Darling insists on blocking the payment of co
Scotsman.com (Free subscription) | 12/03/2009
ROYAL Bank of Scotland chief executive Stephen Hester and the entire board would be forced to stand down if Chancellor Alistair Darling insists on blocking the payment of co
The Guardian (Free subscription) | 12/04/2009
Royal Bank of Scotland today insisted it would press ahead with its controversial bonus plans, despite rumours that a mounting political backlash would force it to back down. Directors, led by the chief executive, Stephen Hester , insist that future profits at the largely state-owned bank would be jeopardised if a clampdown on bonus payments led to a mass exodus of top staff. Sources...
The Guardian (Free subscription) | 12/04/2009
This is not a sentiment often expressed in a national newspaper, but put yourself in the brogues of Stephen Hester, the boss at Royal Bank of Scotland . His investment bankers are set to rake in a bumper profit of £6bn this year and want a decent bonus for their efforts. To satisfy their demands, there is a bonus pool of around £1.5bn. And if Alistair Darling vetoes that...
Talk about Newsnight (Free subscription) | 12/03/2009
... described by the BBC". I hope you are clear now? If not, here's the situation. 1. RBS boss Stephen Hester commissioned McKinsey to carry out a sweeping review of the bank's operations. The aim is to get RBS in a position where it can start generating profits to offset the losses on 282bn toxic debts. Eventually the shares the taxpayer owns could be sold at a profit (we are currently...
Lord Lavendon's Blog (Free subscription) | 12/03/2009
... government was pledged not to politically interfere with the operations or running of the bank (Stephen Hester's pre-condition). So will the government break this promise and start to make political decisions rather than commercial ones? (Which is in essence the core of the argument between the two sides). Given that we are close to an election, to my mind it is inconceivable that...
