Shareholder Anger Over RBS Executice's Pay Package
Anger over $7m pay package for Royal Bank of Scotland's boss of US operations
21st March 2005
Major shareholders in the Royal Bank of Scotland are angry over a new renumeration package awarded to the head of US operations, Larry Fish.
Valued at around $7m (£3.6m), the package is worth around £1m more than that of Fred Goodwin, the bank's Chief Executive.
Shareholders have expressed strong concerns over lack of transparency about the way the package has been calculated, rather than the size of it, as it is accepted that executive pay is generally higher in the USA.
RBS reported profits of nearly £7bn last year.
Read More: Money Guardian
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