Ulster Bank boss to forego annual bonus

6 July 2012

Ulster Bank boss Jim Brown has revealed he will not be accepting his bonus this year.

The lender, which is part of the Royal Bank of Scotland (RBS), has come under a lot of criticism for its handling of a technical mishap that has left thousands of customers without proper access to their accounts.

Mr Brown follows in the footsteps of Stephen Hester, chief executive of RBS, who has already announced he will not be taking his annual pay supplement.

The problem has been fixed at both RBS and Natwest, but it continues to linger on for Ulster Bank customers in both the Republic of Ireland and Northern Ireland (NI).

Speaking before the enterprise committee at the NI Assembly, Mr Born stated: "I have ... informed the Ulster Bank board that I do not wish to be considered for an annual bonus award."

He added the bank is currently looking into whether or not to offer compensation to those affected.

By Claire Archer

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