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Ir gets worse............
RBS chairman reveals employee lobbying over banker bonuses
Sir Philip Hampton describes 'out of body experience' over one banker's complaint about £4m payout
RBS Group Chairman Sir Philip Hampton has spoken out about employee lobbying over bonuses Photograph: Leon Neal/AFP/Getty Images
The chairman of Royal Bank of Scotland described on Monday how he felt like he was having an "out of body experience" when a banker protested to him that his £4m pay deal was unfair.
In a rare insight into the pressure top employees try to put on boards over their pay levels, Sir Philip Hampton said he had been contacted "quite a lot" by bankers wanting bigger pay deals via email and in face to face meetings.
Since becoming chairman of RBS after its £45bn bailout five years ago - it is now 81% owned by the taxpayer - Hampton has had to fend off repeated criticism of the bonuses paid to investment bankers and to former chief executive Stephen Hester. But the 60-year-old admitted to being surprised by the demands made by some staff.
"I can tell you I've had some completely out of body experiences in recent years where I was talking to somebody about potentially getting a £4m pay package. And outrage coming across the table from the other side because they know that somebody doing a comparable job at another bank is getting £6m. This is absolutely outrageous to them, that somebody is getting 50% more," he said.
Full story Guardian..
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