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RBS boss “underestimated” bonus row
Royal Bank of Scotland boss Stephen Hester admitted today he had “underestimated” the furore his £1m bonus would cause.
Mr Hester, chief executive of the 83 per cent state-owned bank, disclosed that he had considered resigning amid the political storm.
But he said he believed it was essential to defuse the “timebomb” of the bank’s balance sheet for the benefit of the taxpayer.
“In the end, I came to the conclusion that it would be indulgent for me to resign,” he told BBC Radio 4’s Today programme.
Mr Hester said that he is tasked with “defusing a timebomb” at RBS and the spotlight placed on the bank makes the “job more difficult”.
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Weather for Yorkshire
Wednesday 23 May 2012
Today
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Temperature: 11 C to 24 C
Wind Speed: 12 mph
Wind direction: North east
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