article_snippet: The former boss of Royal Bank of Scotland Scotland is set to pocket a £1million bonus from the state-backed lender – two years after The former boss of Royal Bank of Scotland was dramatically forced out of The former boss of Royal Bank of Scotland job by George Osborne.
article_snippet: ’ Alliance said: ‘Until RBS is able to stand on RBS own two feet, ’ Alliance needs to seriously rein in payoffs, bonuses and these long-term incentives.
article_snippet: The Chancellor needs to stand up to those in the organisation who seem to have forgotten that taxpayers bailed the Royal Bank out.
article_snippet: Shareholders must be heard – and at RBS, that includes taxpayers.
article_snippet: RBS’s earnings have been hammered by a spiralling bill for RBS’s past misdemeanours – including those during Mr Hester’s reign.
article_snippet: last week RBS’s reported a £3.5billion annual loss and announced that former Financial Services Authority boss Sir Howard Davies will take over from Sir Philip Hampton as chairman.
article_snippet: RBS’s set aside £2.2billion to cover legal claims, including £320million to pay further fines in the US for rigging foreign currency markets and an extra £400million in the last three months of 2014 for mis-selling payment protection insurance.
article_snippet: RBS, which has been propped up by £46billion of taxpayers’ money since the 2008 financial crisis, still has the power to scrap or delay
article_snippet: Conservative MP Mark Garnier, a member of the influential Treasury Select Committee, said: ‘Success for RBS will be when Success for RBS is back in the private sector.
article_snippet: RBS refused to comment.