LONDON, March 8 Royal Bank of Scotland
awarded Chief Executive Ross McEwan shares worth almost a
quarter more than last year.
The taxpayer-owned bank gave McEwan shares worth 1.22
million pounds ($1.48 million), up from 994,000 pounds last
year, according to a stock exchange filing on Wednesday.
The increase is because McEwan has been given his full award
of shares for running the whole bank, whereas in previous years
the award partly reflected his previous role of running the
lender's retail banking division.
RBS declined to comment.
The bank reported a sharp rise in losses last year as higher
misconduct charges and restructuring costs underscored the
challenges facing the lender nine years after it was bailed out
in the world's biggest bank rescue.
RBS is battling to complete a restructuring of the
taxpayer-backed bank, which includes asset sales, job cuts and
multi-billion dollar charges to settle litigation and pay
regulatory fines for past misconduct.
Those issues have complicated RBS's task of finding
profitable business in a low interest rate environment and
economic uncertainity caused by Britain's vote to leave the
McEwan's salary was flat last year, according to the bank's
($1 = 0.8229 pounds)
($1 = 0.8233 pounds)
(Reporting By Andrew MacAskill, Editing by Lawrence White)