14th Jan 2015 06:44
LONDON (Alliance News) - The Royal Bank of Scotland Group PLC will no longer pay annual bonuses to top executives, Sky News reported late on Tuesday.
Sky News said the move comes under the bank's efforts to "defuse" the political battle over pay to top personnel at the bank.
The UK government still owns about 80% of RBS, following a bailout during the financial crisis.
Sky News said it "understands" that City shareholders' reaction has been mixed to plans to pay all variable rewards in the form of shares that vest over four and five years.
http://news.sky.com/story/1407352/rbs-abandons-annual-bonuses-for-top-execs
By Samuel Agini; [email protected]; @samuelagini
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