Hester urges RBS staff: Prove thecritics wrong
Wednesday 08 February 2012
Stephen Hester, the chief executive of Royal Bank of Scotland, has come out fighting to protect his and the taxpayer-owned bank's reputation as the political and public furore over City bonuses continued.
In his first statement since he turned down the £963,000 share bonus which the RBS board awarded him for 2011, he launched a rallying cry to the bank's staff, saying: "The best way to deal with it is to prove the critics wrong."
He said: "There is no doubt our position in the spotlight makes the job harder. And we can't know how much damage that will do to RBS or the interests of those we serve, whether as customers or shareholders."
Labour yesterday called for a ban on large bonuses in bailed-out banks except for "genuinely exceptional performance", arguing that a "culture of excessive bonuses" is damaging the economy. The taxpayer owns 82 per cent of RBS and is sitting on a loss of £22bn from the £45bn bailout.
Sir Philip Hampton, the chairman of RBS, strongly defended Mr Hester last week and it is clear that the bank and its board feel the need to continue stating their case as tension over fat-cat pay and bonuses grows.
Mr Hester told staff that what "we" need to do is "to be purposeful, calm, and do our jobs to the best of our ability. And have confidence and pride in what we have done and what we can accomplish."
He added: "We should try to be strong, to do our jobs, to deal with facts not fears. I, and we, have the full support of Philip and the board in this endeavour."
Following the removal of Fred Goodwin's knighthood last week, Mr Hester said: "I am acutely conscious that the way our company has been in the media and political spotlight this last 10 days is discomforting to say the least.
"And while it has been personalised in different ways, whether on myself or my predecessor, many have felt a broader impact on RBS of the uncertainty and criticism."
- 1 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 2 Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
- 3 Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
- 4 Mafia's wall of silence broken: Victim of Cosa Nostra's extortion rackets in its Corleone heartland co-operates with authorities for the first time ever
- 5 Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
Mafia's wall of silence broken: Victim of Cosa Nostra's extortion rackets in its Corleone heartland co-operates with authorities for the first time ever
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...