RBS 2004 Annual Report Download - page 132
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130
Directors’ remuneration report
Directors’ remuneration report continued
Directors’ remuneration
Salary/ Performance 2004 2003
fees bonus* Benefits Total Total
£000 £000 £000 £000 £000
Chairman
Sir George Mathewson 542 — 39 581 538
Executive directors
Sir Fred Goodwin 990 1,500 32 2,522 1,916
Mr Fish 637 1,638 30 2,305 1,859
Mr McLuskie (retired 23 August 2004) 341 — 1 342 1,048
Mr Pell 670 721 12 1,403 1,307
Mr Watt 605 660 3 1,268 1,110
* includes 10% profit sharing
Basic salary is the only component of the remuneration package which is pensionable.
Board 2004 2003
Board fees committee fees Total Total
Non-executive directors £000 £000 £000 £000
Vice-chairmen
Lord Vallance of Tummel 100 — 100 100
Sir Angus Grossart 100 — 100 100
Mr Botin (resigned 12 November 2004) 46 — 46 44
Mr Buchan 50 50 100 56
Dr Currie 50 10 60 54
Mr Hunter (appointed 1 September 2004) 17 5 22 —
Mr Inciarte (resigned 12 November 2004) 46 — 46 44
Mr Koch†(appointed 29 September 2004) 12 — 12 —
Mr MacHale (appointed 1 September 2004) 17 5 22 —
Miss Mackay 50 25 75 64
Mr Robertson 100 — 100 217*
Sir Steve Robson 50 15 65 54
Mr Scott 50 23 73 67
Mr Sutherland 50 3 53 44
*includes £167,000 in respect of Mr Robertson’s service as an executive director. From 25 June 2003, Mr Robertson has carried out his
role as Chairman, Corporate Banking and Financial Markets and as a director in a non-executive capacity. He also provides general
advice on business issues to the Board and Board Committees as appropriate, including attendance as required at the Group Audit
Committee and the Advances Committee. For these services Mr Robertson receives a fee of £100,000 per annum.
†In addition to his role as a non-executive director, Mr Koch has an agreement with Citizens Financial Group, Inc. to provide consulting
services for a period of three years following the acquisition by Citizens of Charter One Financial, Inc. For these services Mr Koch
receives $402,500 per annum.
No director received any expense allowances chargeable to UK income tax or compensation for loss of office/termination payment.
The non-executive directors did not receive any bonus payments or benefits.