Even RBS CEO’s mom says he’s overpaid

Stephen Hester, CEO of RBS, which owns Citizens Bank, said his parents think his $2 million base salary and the rest of his pay package is too generous. /
Stephen Hester, CEO of RBS, which owns Citizens Bank, said his parents think his $2 million base salary and the rest of his pay package is too generous. /
LONDON – The chief executive of Royal Bank of Scotland Group Plc, parent of Providence-based Citizens Financial Group Inc., said Tuesday that even his parents think he makes too much money. RBS CEO Stephen Hester made the comments in testimony before the House of Commons Treasury Committee in London. The British government became the bank’s…

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1 COMMENT

  1. Perhaps, Abercrombie and Fitch CEO Michael Jeffries took a 39% raise, while their stock price fell 72%, and thousands were laid off. Out of the top S&P 500 companies, there was a CEO salary drop of less than 6% – but compared with wages lost due to unemployment, that’s small pennies. It went from several dozen to several hundred to one, tilted aggressively in the favor of CEOs.
    It isn’t exactly a secret that the ratio of the average workers compensation or wages to CEO compensation has widened at a disgusting rate since the late 1960s, and therefore that the average person is likely to get sent running for payday loans.