After being hounded by the media and politicians alike, Royal Bank of Scotland (RBS) chief Stephen Hester (photo right) has reluctantly waived his £963.000 bonus for 2011.
Mr Hester’s ex-wife Barbara was Master of the Foxhounds at the Warwickshire Hunt when he regularly took part in fox-hunts. It appears that the fox-hunt fanatic isn’t too keen on hunting when he is the quarry.
After Mr Hester took over at the RBS, he was recruited to end the culture of excess, he faced immediate criticism over his indulgent lifestyle after hosting a lavish hunt ball at his £7 million country estate.
Just two weeks ago the RBS announced it was cutting a further 3,500 jobs and a further 950 jobs are also to go at Irish subsidiary Ulster Bank. These are in addition to the 30,000 jobs lost over the past couple of years.
No you didn’t miss it, the Countryside Alliance and Hester’s fellow hunters haven’t organised a protest for the livelihood of sacked employees, even those in ‘rural’ areas.