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06/07/2012
Ulster Bank CEO Waives Bonus As Crisis Continues
In response to political pressure, Ulster Bank chief executive Jim Brown has agreed to waive his annual bonus for 2012 in response to the unprecedented technical crisis that has affected tens of thousands of customers for a third week.
Mr Brown said in a statement last night “everyone at Ulster Bank is completely focused on putting things right for our customers”.
“I don’t want there to be any doubt that this is also my personal priority,” he said. “I am personally committed to re-earning the trust of our customers. I have therefore informed the Ulster Bank board that I do not wish to be considered for an annual bonus for 2012.
A spokeswoman for the bank declined to say how much Mr Brown was forgoing as a bonus for the year. The New Zealand banker was appointed chief executive of Ulster Bank last year by the bank’s UK parent company, Royal Bank of Scotland.
Meanwhile the bank has said most account balances have now been updated to include transactions made up to last Monday.
(H)
Mr Brown said in a statement last night “everyone at Ulster Bank is completely focused on putting things right for our customers”.
“I don’t want there to be any doubt that this is also my personal priority,” he said. “I am personally committed to re-earning the trust of our customers. I have therefore informed the Ulster Bank board that I do not wish to be considered for an annual bonus for 2012.
A spokeswoman for the bank declined to say how much Mr Brown was forgoing as a bonus for the year. The New Zealand banker was appointed chief executive of Ulster Bank last year by the bank’s UK parent company, Royal Bank of Scotland.
Meanwhile the bank has said most account balances have now been updated to include transactions made up to last Monday.
(H)
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