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PPI Claims - About PPI

PPI Claim News - 12/1/2010

PPI Refunds: "My parents think I'm overpaid", banker tells MPs

A leading bank executive has told MPs that even his own parents think he earns too much for his job, the Guardian reports today (January 12th).

Stephen Hester of the Royal Bank of Scotland (RBS) made the comments during a grilling by the influential Treasury Select Committee of the House of Commons.

Although his company's bonus pot is reportedly worth more than £1.5 billion this year, Mr Hester insisted that he did not yet know how much RBS would pay out to its 22,000 investment bank employees.

RBS is now 84 per cent owned by the UK taxpayer, having been bailed out during the global financial crisis of 2008 and subsequently taken part in the government's Financial Assets Protection Scheme which increased the public's stake.

The committee is also taking evidence from bank bosses at Northern Rock and Lloyds Banking Group.

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