1,000 bankers leave RBS over bonus row: Report

Subscribe to Oneindia News

1,000 bankers leave RBS over bonus row: Report
London, Dec 7: Over 1,000 investment bankers have quit the Royal Bank of Scotland to join rival firms after UK government ordered to clamp down on bonuses for 2009, a media report said.

According to Sunday Times report, "More than 1,000 investment bankers have quit the Royal Bank of Scotland to join rival firms for guaranteed cash bonuses and big salary increases."

The report said that Barclays Capital, Nomura and Societe Generale are among the banks that are offering bumper pay deals to RBS.

RBS is a recipient of the government"s bank bailout.

Quoting sources the report further said, "A stand-off with the government over payment of bonuses for 2009 threatens to spark a fresh wave of resignations in the new year".

Meanwhile, British Prime Minister Gordon Brown has indicated that RBS will not be discriminated against in the government's bonus crackdown, the report said, adding that treasury sources have suggested that an increase on last year's bonus pool is unlikely.

OneIndia News

Please Wait while comments are loading...