Royal Bank of Scotland, which is 70% taxpayer-owned, has spent more than £10m hiring two bankers, in a move that may further inflame the row over City bonuses, reports The Times. RBS has poached Antonio Polverino, a star banker from Merrill Lynch, on a £7m one-year package. Its new finance director, Bruce Van Saun, is joining from Bank of New York Mellon next month; he was paid $9m (£5.4m) in 2007, his last full year at the US bank, and is expected to earn a similar amount in his new job.

This entry was posted by Gwen Robinson on Thursday, August 13th, 2009 at 4:47 and is filed under Capital markets, People. Tagged with rbs. Edit this entry.