Hester: It's 'uncomfortable' working at RBS

clock

RBS chief Stephen Hester has said it was "uncomfortable" to work at the bailed-out bank whilst suggesting the Government's 82% stake in the bank was slowing down its recovery.

Speaking at the Manchester Business School, Hester said he had 'underestimated how intense, critical and long lasting' the spotlight would be on the bank, writes the Guardian. The chief of the bailed-out bank also lashed out at the "commentariat" of politicians, media and commentators whose outcry forced him to waive his near £1m annual bonus. "No company has had a greater kicking or is subject to greater hostility from the commentariat ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why the lead-up to the Budget may have been worse than the Budget itself

Why the lead-up to the Budget may have been worse than the Budget itself

What Rachel Reeves and Dr Evil have in common

Laith Khalaf
clock 13 November 2024 • 4 min read
Bank of England meets expectations with 25 basis point rate cut to 4.75%

Bank of England meets expectations with 25 basis point rate cut to 4.75%

'Continued progress' on disinflation

Valeria Martinez
clock 07 November 2024 • 2 min read
'Budget will be a reset for our economy' Reeves tells IMF colleagues

'Budget will be a reset for our economy' Reeves tells IMF colleagues

Autumn Budget on 30 October

Linus Uhlig
clock 24 October 2024 • 2 min read