A new candidate for the title of highest-paid employee of a UK bank emerged on Tuesday when Royal Bank of Scotland said its own Larry Fish received nearly 10m last year.
Fish runs the Royal Bank's US arm, Citizens, a business he joined in 1992 when it made profits of 20m (€ It made 349m in 2000, up 35%, just as a seven-year incentive plan came to a close.
He was paid 8.3m on top of his 1.3m salary, an amount likely to upset some commentators, if not his own comparatively underpaid colleagues.
The chief executive, Fred Goodwin, was paid 2.2m, up from 592,000 in 1999. This was largely because of an 800,000 bonus for the takeover of NatWest Bank, the largest deal in UK bank history.