Tuesday 3 June 2008

Most overpaid director II

At least Rothchild's is profitable. Looking at the 24 £1,000,000+ highest paid directors, one director at Royal Bank of Canada Europe Ltd received pay of £2,516,759 in the year ended 31st October 2007, putting him 10th in the Remuneration of Highest Paid Director League Table despite the bank making a loss! In the previous year the highest paid director at Royal Bank of Canada received a lesser remuneration despite making a profit of £29,648,000. So, profit turns into a huge loss and the highest paid director gets a pay rise! A loss for the year of £81,638,000 puts Royal Bank of Canada at 154th in the Pre-Tax Profit League Table in front of only Egg Banking Plc and Northern Rock Plc.

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