The Financial Times reports that a 2009 deferred pay award allocated to Royal Bank of Scotland investment banking head John Hourican is likely to be 'contentious', as the banker could end up bagging $6.1m as a result of it this year.
So, let's get this right - the UK government (and regulators) were banging the drum a couple of years back, insistent that senior bankers got the majority of their bonuses in deferred equity (to align their interests with the long-term interests of stockholders), and, in addition, that payment was dependent on performance.
So, here's an example of just that - and the payout will likely be 'contentious'! God help us!!
50 Shades of Embarrassing
A Price To Pay - The Inside Story Of The NatWest Three
