RBS chief set for £9.6m incentive package

Royal Bank of Scotland is set to reveal a £9.6m (€11.4m) pay package for its chief executive, it was reported today.

The UK taxpayer-backed bank has won the support of shareholders for its long-term incentive plan for boss Stephen Hester, according to the Financial Times.

It is understood that RBS persuaded UK Financial Investments (UKFI), which controls the British government’s more than 70% stake, as well as other large shareholders at a meeting last week.