View more on these topics

RBS chairman admits bankers are overpaid

Royal Bank of Scotland chairman Sir Philip Hampton has admitted that too many bank employees are overpaid.

According to an interview with BBC Radio 4, Hampton said it was hard to defend the gap between what most people earned and what some bank employees earned.

Hampton acknowledged that bankers pay “continued to be astonishingly high” but warned that banks had no choice if they wished to retain the top people.

Hampton said: “If we don’t pay our top people appropriately, they leave very quickly. Our top people are very much in demand and we have seen a significant loss of our top people.”

RBS is currently 83 per cent owned by the government after being bailed out in 2008.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm