Go to the Globe and Mail homepage

Jump to main navigationJump to main content


Departing RBS chief saved the bank. Who will save it now? Add to ...

Subscribers Only

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Hail the conquering hero? Royal Bank of Scotland shareholders have a lot to thank Stephen Hester for, despite the outcry every time he thought about taking a bonus. True, the share price has fallen by a third during his tenure. But he has taken the bloated, bailed-out mess he inherited from Fred Goodwin in 2008 and turned it into something the government, which owns 82 per cent, can consider privatising. The bank made a £24-billion ($38.3-billion) net loss in the year he started. This year a £2-billion profit is expected.

Report Typo/Error

Next story




Most popular videos »

More from The Globe and Mail

Most popular