Love a bust-up.
Under the rules, bankers cannot receive a bonus worth more than 100% of their salary. But the cap can be raised to 200% if shareholders vote in favour of a higher limit.
New RBS boss Ross McEwan is set to ask shareholders to approve a motion at this year’s annual meeting allowing the bank to do so. A move then would leave the Treasury with the decision whether or not to back the higher cap. The move would apply to bonuses paid for 2014.
The bank is watching rivals closely to see what it must do to retain high-flyers. But any move requiring the Treasury to approve higher bonuses is likely to be politically difficult.
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