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.’
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016