RBS still happily handing out bonuses

UK Financial Investments (UKFI), which manages the Government's bank assets, is expected to give its approval of RBS CEO Stephen Hester's (near £8m) pay packet at the group's annual meeting in Edinburgh. Mr Hester took over the job from Fred Goodwin in 2008, and has been awarded an additional £4.5m potential shares windfall on top of his £2m annual bonus and £1.2 million salary. He and eight of his top team will share a bonus and shares windfall totalling £28m for its 2010 financial year.

RBS is 83% owned by the taxpayer following the bank's near collapse at the height of the financial crisis, and is expected to face wider shareholder anger when the remuneration motion (of almost 400% of salary) comes to a vote.

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