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Monday, January 30, 2012

Hester Waives Bonus

Stephen Hester, CEO of RBS, has bowed to political pressure and has waived his £1M bonus.

This is of course a Pyrrhic victory for those who were baying for Hester to waive it.

Had he taken the bonus, a large chunk would have gone to the taxman; as it is, the decision to waive the bonus has knocked a chunk off the value of RBS shares (which are owned by the taxpayer).

Be careful what you wish for!

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