Trump ‘plans to roll back’ some metal tariffs; NatWest hands bankers £495m bonus pot – business live
Rolling coverage of the latest economic and financial newsPaul Thwaite is now the highest earning CEO at NatWest Group since his disgraced predecessor Fred Goodwin was handed £7.7m in the lead-up to the financial crisis (and, let’s not forget, its £45bn bailout) in 2006. I asked during the earnings media call this morning whether Thwaite was comfortable with his new £6.6m pay package for 2025, and whether it was an appropriate moment to be returning to pre-financial crisis pay levels.This was Thwaite’s response:The first thing I’d say is that I recognise that senior roles in financial services, in banking and actually in wider professional services, are very well paid. I appreciate that. I know that, I believe I’m very fortunate, and it would be churlish for me to suggest otherwise. The exec pay policy is set by the board, It’s voted on by shareholders. There’s obviously a very close link between reward and performance. And it goes up and down depending upon performance. So that’s all I’ll say on that, really. I’ve been here a long time and very proud of what we’ve achieved over the last couple of years as the bank. We have a fantastic team and we’re trying to make sure we support the UK economy, and that’s where all my time and energy goes.” Continue reading...
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Rolling coverage of the latest economic and financial news
Paul Thwaite is now the highest earning CEO at NatWest Group since his disgraced predecessor Fred Goodwin was handed £7.7m in the lead-up to the financial crisis (and, let’s not forget, its £45bn bailout) in 2006.
I asked during the earnings media call this morning whether Thwaite was comfortable with his new £6.6m pay package for 2025, and whether it was an appropriate moment to be returning to pre-financial crisis pay levels.
This was Thwaite’s response:
The first thing I’d say is that I recognise that senior roles in financial services, in banking and actually in wider professional services, are very well paid. I appreciate that. I know that, I believe I’m very fortunate, and it would be churlish for me to suggest otherwise.
The exec pay policy is set by the board, It’s voted on by shareholders. There’s obviously a very close link between reward and performance. And it goes up and down depending upon performance. So that’s all I’ll say on that, really.
I’ve been here a long time and very proud of what we’ve achieved over the last couple of years as the bank. We have a fantastic team and we’re trying to make sure we support the UK economy, and that’s where all my time and energy goes.”
