Revisited: RBS Bonuses, Bullying & (more) BS


I had a sick – disgusted – feeling in the pit of my stomach when I read these statements:

Banking: Stephen Hester, chief executive at RBS, yesterday told the Commons public accounts committee that he was “low paid” compared to people in equivalent jobs. (Scotsman page 11).

At the same meeting Eric Daniels, former chief executive of Lloyds, angered MPs by suggesting that the banking crisis was good for the UK.

It did bring to mind an old blog item that does still make me smile…

RBS Bonuses, Bullying & (more) BS BBC News – Royal Bank of Scotland announces £3.6bn of losses In the style of “Points of View”: Why oh why oh why are we subjected to numerous column inches, hours of discussion, Select committee interviews, general politicking and bullsh*t on what are patently SYMPTOMS!? It is all just further evidence that it is the CULTURE that needs to change before anything else of any real significance or permanence will occur. As far as RBS is concerned, it … Read More

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RBS Bonuses, Bullying & (more) BS


BBC News – Royal Bank of Scotland announces £3.6bn of losses

In the style of “Points of View”: Why oh why oh why are we subjected to numerous column inches, hours of discussion, Select committee interviews, general politicking and bullsh*t on what are patently SYMPTOMS!?

It is all just further evidence that it is the CULTURE that needs to change before anything else of any real significance or permanence will occur.

Merciless leader Top performer

As far as RBS is concerned, it is pretty common knowledge that their “disgraced”, but unpunished and not impecunious, former leader has a track record akin to  Genghis Khan at the peak of his powers. Ok, so in keeping with modern etiquette his enemies were only put to the literal (financial) sword…whilst he is STILL a Knight of the Realm. Many of them, deemed to be ”traitors” from within his own ranks, suffered…along with their, equally innocent, families…as a direct result of their familiarity with old fashioned values – like Governance, Risk & Compliance

A great quote sprang to mind:

“IF YOU CAN’T CHANGE THE PEOPLE…CHANGE THE PEOPLE”

So Stephen Hester tells us that “…… some of our best-performing people have been leaving in their thousands”. As a taxpayer and, therefore, shareholder – for what that is worth – I am delighted to hear these greed merchants and acolytes of a disgraced and discredited regime are taking their “skills” elsewhere. PERHAPS THEN THE EMPHASIS MAY SWITCH TO DELIVERING THE TYPE OF PRODUCTS, SERVICES AND INVESTMENT STRATEGY THAT COMMENCE THE PROCESS OF REBUILDING TRUST.

START TREATING THE PEOPLE THAT YOU DO BUSINESS WITH AS STAKEHOLDERS (not idiots) AND DEMONSTRATE THAT YOU ARE SERIOUS ABOUT “CHANGE”. OTHERWISE TAKE THE KID GLOVES AND SHEEPS CLOTHING BACK TO THE FANCY DRESS SHOP. WE AIN’T BUYING IT!