RBS chief to reject bonus in 2014

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ROYAL Bank of Scotland’s new boss won’t take a bonus for his work on top of his £1 million salary until 2015.

Ross McEwan, 56, will replace outgoing chief executive Stephen Hester in October.

His appointment was announced as the city-based bank reported pre-tax profits of £1.4 billion in the first half of the year – up from a loss of £1.7bn the year before.

Chairman Sir Philip Hampton said: “Five years on from its rescue, RBS is now a safe and strong bank.”