At the Institute of Directors centenary conference, RBS chairman George Mathewson said ‘fat cat’ pay was in most instances justified.
He said: ‘Where real value has been added to the company by an executive, then there should be high remuneration. Good executives are hard to find.’
In defense of high payoffs for failed executives, Mathewson said the prospect of high remuneration pay must have been there to attract the executive in thefirst place.
‘To leave a high paid job is a risky decision,’ he said but added ‘You must get the best person for top jobs, that is your duty to shareholders.’
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars
Tallat Mahmood appointed to corporate finance team of Top 20 firm
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes