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Royal Bank of Scotland CEO Stephen Hester will not be accepting the one million pound bonus that drew criticism from the British public and politicians, the bank recently announced. Rob Mellor from PwC UK said in a statement that it is easy for politicians to attack banks on remunerations and bonuses without offering real solutions. He was one of the panellists at a PwC conference held in Luxembourg on the Alternative Investment Industry.
Before the banks announcement, the British Labour Party said it would force a vote in the House of Commons calling for Hester to be stripped of his bonus. It seems very easy for politicians to attack banks. Politicians have to understand that the financial sector is a global and competitive industry. These...
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