T 42 Posted January 27, 2012 Share Posted January 27, 2012 Genuine question..who set Hester on and negotiated his contract? It seems that Hester has had rather a lot of government appointments to rather well paid jobs. In November 2004 he was appointed Chief Executive of British Land. Then Hester was appointed non-executive deputy chairman of the newly-nationalised Northern Rock by Chancellor of the Exchequer Alistair Darling in March 2008, a role which he resigned from in September 2008 when offered non-executive position on the board of Royal Bank of Scotland. Royal Bank of Scotland In November 2008 he left British Land and on 21 November 2008 replaced Sir Fred Goodwin as Chief Executive of the RBS Group. Hester is paid an annual salary of £1.2 million by RBS. Alongside this, he took home £7.7m in bonus and pension payments. In December, 2009, the board of RBS, in which the United Kingdom government has an 84% stake, threatened to resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm. The matter received heavy criticism because it followed the £850bn taxpayer bailout of the banking sector. The Chancellor of the Exchequer, Alistair Darling, said he would not be "held to ransom". But was. Link to comment Share on other sites More sharing options...
Kadogo Posted January 27, 2012 Share Posted January 27, 2012 It seems that Hester has had rather a lot of government appointments to rather well paid jobs. In November 2004 he was appointed Chief Executive of British Land. Then Hester was appointed non-executive deputy chairman of the newly-nationalised Northern Rock by Chancellor of the Exchequer Alistair Darling in March 2008, a role which he resigned from in September 2008 when offered non-executive position on the board of Royal Bank of Scotland. Royal Bank of Scotland In November 2008 he left British Land and on 21 November 2008 replaced Sir Fred Goodwin as Chief Executive of the RBS Group. Hester is paid an annual salary of £1.2 million by RBS. Alongside this, he took home £7.7m in bonus and pension payments. In December, 2009, the board of RBS, in which the United Kingdom government has an 84% stake, threatened to resign unless they were permitted to pay bonuses of £1.5bn to staff in its investment arm. The matter received heavy criticism because it followed the £850bn taxpayer bailout of the banking sector. The Chancellor of the Exchequer, Alistair Darling, said he would not be "held to ransom". But was. So, a good " team player". Which Lodge is he a member of ? Link to comment Share on other sites More sharing options...
truman Posted January 27, 2012 Share Posted January 27, 2012 So, a good " team player". Which Lodge is he a member of ? The Labour one by the looks of it Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted January 27, 2012 Share Posted January 27, 2012 ...There is no way that huge fat cat wages/bonuses will ever be controlled. Even if they were legislated against, ways around will be found. In the same way that the ultra rich and big businesses circumnavigate the tax system to avoid paying what it says they should. The Dutch appear to have found a way. Link to comment Share on other sites More sharing options...
Guest sibon Posted January 27, 2012 Share Posted January 27, 2012 There is no way that huge fat cat wages/bonuses will ever be controlled. Even if they were legislated against, ways around will be found. In the same way that the ultra rich and big businesses circumnavigate the tax system to avoid paying what it says they should. We appear to have found a way to avoid paying bonuses to nurses. It is a pretty simple idea really, nurses don't get bonuses because nobody gives them a bonus. We should do the same thing for all public sector employees at the moment. That includes Mr Hester. The most amazing thing about this affair is that he and his board think that it is ok to award these bonuses and that it is ok to take them. The world has truly gone mad if we can pay almost £1m in a bonus to the head of a loss making bank, whilst we simultaneously slash budgets for vital public services. He should be forced to struggle on with only his £1.2m salary as support. Link to comment Share on other sites More sharing options...
Kadogo Posted January 27, 2012 Share Posted January 27, 2012 The Dutch appear to have found a way. Do the Dutch have their bonuses " CAPPED " ber boom (sorry) Link to comment Share on other sites More sharing options...
GodStar Posted January 27, 2012 Share Posted January 27, 2012 The Dutch appear to have found a way. I dont believe they have. Link to comment Share on other sites More sharing options...
grafikhaus74 Posted January 27, 2012 Share Posted January 27, 2012 ...then who ever set up that contract should be held accountable... Now you're talking! But that would set a dangerous precedent. Imagine Blunkett being held accountable for the millions his ID scheme cost. Ditto the bright spark who has wasted millions on the NHS computer syste. Ditto (Coe? Jowell?) who said the Olympics would cost £2.9 billion. But I suppose that their talents are in great demand overseas... Still, Dave Hartnett at HMRC is on the case. He says 'people who pay cash in hand are diddling the economy'. So it's not thieving politicians, bankers, illegal wars etc. etc. Remember. We are all in this together. Link to comment Share on other sites More sharing options...
GodStar Posted January 27, 2012 Share Posted January 27, 2012 We appear to have found a way to avoid paying bonuses to nurses. It is a pretty simple idea really, nurses don't get bonuses because nobody gives them a bonus. It's a good job medics dont revolt en mass. They could demand very hefty bonuses. Imagine what bonus a heart surgeon could request to save a life, or a midwife to deliver your baby healthily. But that is their job i hear you cry! Ditto the RBS chief- we'll give you 1.2m a year to turn the bank around. If you do it well done..dont be asking for a bonus as well! The alternative is 100k a year and a million bonus if you do a great job. Seems fair to me Link to comment Share on other sites More sharing options...
Stan Tamudo Posted January 27, 2012 Share Posted January 27, 2012 I dont believe they have. They have. http://ht.ly/8cTdX Link to comment Share on other sites More sharing options...
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