RBS chief to forgo bank bonus

The boss of Britain's state-controlled Royal Bank of Scotland will refuse his bonus for 2009, the Financial Times reported on Monday.
RBS chief executive Stephen Hester will waive his right to a possible 1.6 million pounds (1.8 million euros, 2.5 million dollars), the bank is set to disclose on Thursday when it unveils annual results.
"He will do whatever is necessary to secure the future of the bank," the FT quoted one person close to Hester as saying.
The bank is 84-percent owned by the British government after a series of enormous state bailouts.
The FT report comes after Barclays bank last week announced that its top executives had shunned their latest annual bonuses amid outrage over pay.
There is widespread public anger about the banking sector's bonus culture, which some observers blame for encouraging excessive risk-taking and helping to tip the world economy into recession.