RBS reveals five highest paid bankers earn total of £20m

RBS’ highest-paid bankers were named yesterday as it revealed it paid five top-ranking employees a total of more than £20m last year.

RBS originally published its biggest pay awards anonymously as part of the Project Merlin deal with the government but staff members could be identified from analysis of its stock market filings.

RBS said it paid 323 critical staff known as “code staff” a total of £375m in 2010 – an average of £1.1m each.

Analysis revealed that Ellen Alemany, who runs RBS’ US operations, was paid £5.95m plus pension.

John Hourican, chief executive of RBS’ global banking and markets division, was awarded a £5.93m salary and benefits package.

Others were Nathan Bostock, who heads RBS’ restructuring and risk, on £3.3m; head of retail Brian Hartzer, on £3.2m and corporate division chief Chris Sullivan on £2.6m.

RBS stands out from other British banks, such as Barclays and HSBC, where senior executives in the investment banking businesses, tend to earn more than the chief executive.

Increased transparency around the pay of senior banking executives was one of the more contentious concessions made by the banks in the Merlin agreement with the government.