ROYAL Bank of Scotland (RBS) has hired the former Dresdner Kleinwort banker who became a controversial City figurehead after suing his employer for refusing to pay him a bonus.
John McIntyre, who won close to £2m after taking his fight to the courts, will join RBS as head of corporate finance for Europe, Africa and the Middle East.
He is lauded by some in the City after fighting for his pay despite the political and social backlash against bankers’ remuneration.
The appointment will be seen as a signal of intent from the lender as it prepares to meet with the Treasury and UK Financial Investments – the body which controls the public’s 84 per cent stake – to thrash out a deal on how much it can pay top earners.
RBS faced criticism last year when it announced it would pay £1.3bn in bonuses in order to hang on to its top bankers. This figure is likely to rise as the bank attempts to rebuild the division and ward off rivals hoping to poach its top talent.
An RBS spokesman declined to comment last night.