RBS's former U.S. boss paid $7.5 million last year

LONDON Tue May 13, 2014 5:55am EDT

A Royal Bank of Scotland branch is seen, in central London February 21, 2009. REUTERS/Luke MacGregor

A Royal Bank of Scotland branch is seen, in central London February 21, 2009.

Credit: Reuters/Luke MacGregor

LONDON (Reuters) - The boss of state-backed Royal Bank of Scotland's (RBS.L) U.S. arm Citizens was paid $7.5 million last year, including $500,000 in consultancy fees for three months after she left.

Ellen Alemany was in charge of RBS Citizens for five years until she was replaced by Bruce van Saun at the start of October. Her pay was not always disclosed, but she was known to be one of the bank's top earners and sources said she received more than 5 million pounds ($8.4 million) in 2012.

RBS is 80 percent owned by the British government.

Documents filed for an initial public offering for RBS Citizens in the United States late on Monday showed Alemany was paid a $2.1 million salary last year, plus $4 million in stock awards and $1.4 million in other compensation.

That included $500,000 "as compensation for providing consulting services to us upon request" after she stepped down, the document said.

(Editing by David Goodman)

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