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02/08/2013
New RBS Chief To Forgo Bonus Until 2015
The new boss of the Royal Bank of Scotland will not take any bonus for his role until 2015.
Shares in the bank fell 5% despite the announcement of a pre-tax profit of £1.4bn, up from a £1.7bn loss last year. It is understood that investors had expected a greater improvement.
Currently head of the bank's retail arm, the incoming chief executive, 56-year-old Ross McEwan, will take over the role in October, earning a salary of £1m.
Mr McEwan is quoted as saying: "Our focus is now on building a really good bank for our customers and shareholders, returning the bank to private ownership, and playing our full part in supporting the UK economy."
The new chief executive will not receive a pension from the bank, instead he will take a cash sum equivalent to 35% of his salary.
(MH/JP)
Shares in the bank fell 5% despite the announcement of a pre-tax profit of £1.4bn, up from a £1.7bn loss last year. It is understood that investors had expected a greater improvement.
Currently head of the bank's retail arm, the incoming chief executive, 56-year-old Ross McEwan, will take over the role in October, earning a salary of £1m.
Mr McEwan is quoted as saying: "Our focus is now on building a really good bank for our customers and shareholders, returning the bank to private ownership, and playing our full part in supporting the UK economy."
The new chief executive will not receive a pension from the bank, instead he will take a cash sum equivalent to 35% of his salary.
(MH/JP)
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Marking the worst results in its 150-year history, the Co-op Group has filed losses of £2.5bn for 2013. The Group said that £2.1bn of losses came from the Co-operative Bank, including a trading loss of £1.44bn for the year to December 2013. The losses have been described as "disastrous" by chief executive Richard Pennycook.
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Marking the worst results in its 150-year history, the Co-op Group has filed losses of £2.5bn for 2013. The Group said that £2.1bn of losses came from the Co-operative Bank, including a trading loss of £1.44bn for the year to December 2013. The losses have been described as "disastrous" by chief executive Richard Pennycook.
07 March 2011
Barclays Chief Executive Set For £6.5m Bonus
In Barclays latest published remuneration report, Bob Diamond, the bank's new Chief Executive is geared to receive a hefty bonus of £6.5m. As head of Barclays' investment banking and wealth management operations, the bonus was awarded for his 2010 performance. Mr Diamond only took over the Chief Executive position at the beginning of this year.
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In Barclays latest published remuneration report, Bob Diamond, the bank's new Chief Executive is geared to receive a hefty bonus of £6.5m. As head of Barclays' investment banking and wealth management operations, the bonus was awarded for his 2010 performance. Mr Diamond only took over the Chief Executive position at the beginning of this year.
30 May 2008
Network Rail Bans Work On Bridge
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Network Rail Bans Work On Bridge
Network Rail's Chief Executive Iain Coucher has wrote to Transport for London's (TfL) Commissioner Peter Hendy to seek urgent answers about the severe disruption caused to tens of thousands of passengers as a result of the failure of TfL infrastructure outside Liverpool Street station on Wednesday evening. At about 7.
25 August 2006
Ryanair to sue government over security restrictions
Budget airline Ryanair is to sue the UK government for £3 million compensation following the introduction of tighter security measures.
Ryanair to sue government over security restrictions
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05 May 2011
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
Bank Of England Maintains Bank Rate At 0.5%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5%. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.
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