Hester to receive further £500k from RBS

Stephen Hester, former CEO of the RBS Group, is set to receive a further £500,000 payout from the bank he left two years ago, This is Money reports.

Mr Hester is reportedly the beneficiary of long-term incentive plans put in place before he left the Group in June 2013, under which he has also received hundreds of thousands of shares.

He received an £859,000 share award in 2014 and is believed to have been awarded an additional £1.7 million in shares in March 2015.

The latest sum takes his total pay for a five-year term as CEO to around £13 million.

Mr Hester’s eventual parting of ways with RBS was a result of disagreements with the Chancellor of the Exchequer, George Osborne, over his strategy for the bailed out bank.

Both RBS and Mr Hester refused to comment on the reports.