Bonanza: Alison Rose could take home as much as £4.7million this year
NatWest has been criticised by a key adviser over chief executive Alison Rose’s pay plan.
The 52-year-old could take home as much as £4.7million this year, rising to £5.2million in 2023.
Both Rose and finance chief Katie Murray will receive a performance related annual bonus, split equally between cash and shares.
It marks the return of cash bonuses at the state-backed lender. Since disgraced Fred ‘the Shred’ Goodwin led the bank, incentives have been paid in shares.
Glass Lewis, an adviser to pension funds, has urged investors to vote against the policy later this month. It said it was ‘concerned by the increase in overall incentive opportunity’.
NatWest chairman Howard Davies said: ‘The board believes this is the appropriate time to normalise our executive pay policy and to bring it in line with other UK banks.’
The Government recently sold £1.2billion shares in NatWest, reducing the taxpayers’ stake to below 50 per cent.
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