Stephen Hester to step down

[scenario8]

It appears Stephen |hester has announced he is stepping down. I'm sure more will come out in the near future.

http://www.bbc.co.uk/news/business-22881526

I know these people are always controversial but I thought he was able.

[audidoody]

Oh dear. How WILL he support himself and his family?

[iphonedyou]

audidoody said:

Oh dear. How WILL he support himself and his family?

Is he claiming poverty?

[loafer123]

audidoody said:

Oh dear. How WILL he support himself and his family?

Presumably by earning enormously more than the public and politicians ever allowed at RBS.

I hope the newcomer is as good otherwise the Audidoody's of this world just cost us all alot of money

[petemurphy]

why does he get 12 months salary?

[Scuffers]

petemurphy said:

why does he get 12 months salary?

cause he has not left yet?

as in they will continue to pay him for this year whilst they find a replacement...

[sugerbear]

Because he can. And you or I can do nothing about it.

[tubbystu]

Because his contract lawyer was better than the RBS one, probably.

.........contract break after five years, with 12 months renumeration subject to performance criteria........

[Gargamel]

If you are someone who thought Hester was overpaid.

Wait until you see what they pay the person who takes it private.....

Decent chap, pretty sure he will not miss the public eye.

[audidoody]

loafer123 said:

Presumably by earning enormously more than the public and politicians ever allowed at RBS.

I hope the newcomer is as good otherwise the Audidoody's of this world just cost us all alot of money

Eh? Last time I checked I wasn't a director of RBS.

[anonymous-user]

audidoody said:

loafer123 said:

Presumably by earning enormously more than the public and politicians ever allowed at RBS.

I hope the newcomer is as good otherwise the Audidoody's of this world just cost us all alot of money

Eh? Last time I checked I wasn't a director of RBS.

It's YOUR fault the board gave Hester the boot.

You must be a communist or a lefty or a lesbian if you think there is anything wrong with anything in banking. Either way YOU and YOUR sort are the problem with the economy, not anything to do with banking.

[twerpo]

With margins at historical high levels ie 0.5% to 4% +
Almost impossible for banks not to make money.

IMO Hester was little weak in an actuary way.
These guys are accountants not business men which shows I hear from insiders it's all cost cutting no profit chasing just benefiting from the current high margins. So potential is lost and everyone is worried about losing their jobs even if they are in a profitable area.

[petemurphy]

Scuffers said:

cause he has not left yet?

as in they will continue to pay him for this year whilst they find a replacement...

fair enough. takes 12 months does it?

[singlecoil]

petemurphy said:

Scuffers said:

cause he has not left yet?

as in they will continue to pay him for this year whilst they find a replacement...

fair enough. takes 12 months does it?

Might take a while to find someone who wouldn't be too embarrassed to accept that much money.

[McWigglebum4th]

i hope they replace him with Gordon Brown on 5 pound an hour

[johnnywb]

petemurphy said:

Scuffers said:

cause he has not left yet?

as in they will continue to pay him for this year whilst they find a replacement...

fair enough. takes 12 months does it?

To find someone who's prepared to be almost constantly in the public eye (when it come to business) and who's prepared to work towards the government's objectives (which could be quite different from the normal objectives of the Bank)?

It could quite easily take 12 months i'd have thought.

[ewenm]

johnnywb said:

To find someone who's prepared to be almost constantly in the public eye (when it come to business) and who's prepared to work towards the government's objectives (which could be quite different from the normal objectives of the Bank)?

It could quite easily take 12 months i'd have thought.

"Poisoned Chalice" does spring to mind.

[shocks]

Dear George,

I noticed recently you have an up coming vacancy at myyour lovely playthingstate owned bank.

Please find enclosed my resume, which I'm sure you will find meets your pressing needs in these times. I'm available immediately and will promise not to be a meglomaniac autocratic, having found out there is the lord, I have rinsed these demons during my period of reflection.

Hugs and Kisses

Fred Goodwin

p.s. Any chance of getting back my knighthood

p.p.s. BoA and Citi are ripe for takeover and will strengthen the balance sheet

p.p.p.s I will need to have my very large exec floor re-instated, and one of those Blofeld-chairs

[McWigglebum4th]

2000 bank employees losing their jobs

Should we spin this as good news Boo EVIL bankers


Or bad news BOOOO EVIL bankers

[Mermaid]

Gargamel said:

If you are someone who thought Hester was overpaid.

Wait until you see what they pay the person who takes it private.....

Decent chap, pretty sure he will not miss the public eye.

+ 1

I always thought of Hester as one of the good guys.