BY SARA SCHAEFER MUÑOZ
LONDON—Royal Bank of Scotland Group PLC said its chief executive will waive his bonus for 2011, after a particularly fierce public and political outcry over the size and timing of the award.
Stephen Hester was awarded about £963,000 (around $1.5 million) worth of shares last week by the board of RBS. The Edinburgh-based lender remains 83% taxpayer-owned after a 2008 bailout.
The amount, which comes on top of his £1.2 million salary, sparked furor among U.K. politicians and the public, given that the ...
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