Kingman Must Play a Long Game If Taxpayer Is to Exit with Profit
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Summary
JOHN Kingman is no mean man of parts. For just GBP 143,000 a year he is a top civil servant, banking overseer, investment management guru, taxpayer guardian and, not least, Madame Mystery, the stupendous crystal-ball gazer charged with predicting the course of our fortunes in two stricken banks.
The annual salary of Mr Kingman, the chief executive of UK Financial Investments, the entity that holds the taxpayers' combined GBP 60 billion holdings in Lloyds Banking Group and Royal Bank of Scotland, would be regarded as laughable in the world of investment management. And it is a mere speck compared with the controversial GBP 9.6 million pay package recently agreed for RBS chief executive Stephen Hester.See the full content of this document
Extract
Kingman Must Play a Long Game If Taxpayer Is to Exit with Profit
But Kingman's GBP 143,000 a year headache is not one bank. It's two. It is he who has to monitor the progress of these banks, oversee the appointment of senior directors, ensure ...
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