RBS: 16 extra meetings to agree �1.3bn bonus pot

By Harry Wilson, Financial Services Correspondent 1259PM GMT eighteen March 2010

Royal Bank Of Scotland Group

Remuneration cabinet members together with authority Sir Philip Hampton and former Standard Life arch comparison manager Sir Sandy Crombie, hold a sum of sixteen one more meetings on tip of the 4 scheduled ones, according to the RBS annual inform published today.

Bonus payments to RBS staff have been rarely argumentative after the bank supposed tens of billions of pounds in state await as it came close to fall in the surrounded by of the monetary predicament in late 2008.

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The government, that owns an 84pc interest in the bank, has a approach contend in how most it pays staff after it supposed await from the Asset Protection Scheme last year.

In a note explaining the unusual series of meetings hold by the arrangement committee, RBS pronounced it reflected "the increasing concentration on remuneration, key of the FSA Code, comparison recruitment and the growth of the new deferral plan and long-term inducement plans".