LONDON, April 25 Part-nationalised Royal Bank of
Scotland said on Friday that the body responsible for
managing Britain's stake in the bank will vote down any
resolution proposing bonuses of 200 percent of fixed pay.
The bank said UK Financial Investments informed the bank of
its opposition to a 2:1 variable-to-fixed pay ratio, which it
said was emerging as the "sector norm", and therefore the board
would not bring forward such a proposal at its annual general
"The board acknowledges that this outcome creates a
commercial and prudential risk, which it must try to mitigate
within the framework of a 1:1 fixed-to-variable compensation
ratio," it said.
(Reporting by Clare Hutchison; editing by Jane Baird)