Shareholder group welcomes RBS pay move

Royal Bank of Scotland boss Stephen Hester's move to defer part of his £9.6m (€11.14m) pay package for an extra two years was welcomed today by a shareholder lobby group.

The Association of British Insurers (ABI) - the body that represents around a fifth of UK investors - backed the decision to push back a potential £3.4m (€3.94m) worth of bonus shares until 2014 after it raised concerns.