Today there's a lot of news coverage about Mr Hester who has been awarded close to £1M for his work in restructuring the Royal Bank of Scotland (which is majority publicly owned). The worry, apparently, is that if he were not awarded a bonus then the Government could see a lot of the board walk. This is disingeneous. Mr Hester's remit was to restructure the bank. He is doing his job. Getting a bonus for that is a little strange. There can be an argument that Mr Hester has managed to make some changes that have instilled a little more confidence in the Bank and that without his magic we would be in trouble. Again, this is partially true and even in this case it is extremely difficult to attribute the Mr Hester himself. There is a grave injustice being carried out here. Mr Hester unfortunately for him is the lightening rod as other financiers are also guilty of personal greed.
If Mr Hester were truly interested in restructuring the bank perhaps he himself would be interested in setting an example and forego the bonus and publicly state he is doing his job and financiers should simply be paid a decent salary for doing their job.
No comments:
Post a Comment