RBS: Osborne under fire for ‘sacking’ of Hester
GEORGE Osborne was under fire last night amid accusations that he engineered the resignation of Stephen Hester as chief executive of the Royal Bank of Scotland.
Questions about the role played by the Chancellor in Mr Hester’s departure came as uncertainty grew over who would succeed him as head of the nationalised bank.
Meanwhile, it emerged that Mr Hester told staff in his resignation e-mail that the bank was on the brink of collapse when he arrived five years ago.
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Hide AdYesterday, the RBS share price tumbled as the markets reacted to Wednesday’s surprise announcement that Mr Hester will quit by the end of the year, with a pay-off of £5.6 million.