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Sacking banker pockets millions

This article is over 11 years, 3 months old
RBS banker Stephen Hester took home a £7.7million pay package last week—even though the bank has cut more than 9,000 jobs.
Issue 2249

RBS banker Stephen Hester took home a £7.7million pay package last week—even though the bank has cut more than 9,000 jobs.

The bailed-out bank is 83 percent state-owned—but Tory chancellor George Osborne just rubber-stamped the fat cat payout.

RBS chairman Sir Philip Hampton claimed the bumper bonus was justified.

“We need talented and motivated people and need to be able to pay them fairly,” he snorted.

Hester helped the bank make a loss of more than £1 billion last year.

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