GRS survey: bonuses reduced but basic salaries rising

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LONDON - Reports in the UK media have derided the news the head of risk for the Royal Bank of Scotland, which is 70%-owned by the UK taxpayer, will receive a non-performance related award of free shares, the continuing outcry over executive pay.

Nathan Bostock will be awarded 1.18 million RBS shares, worth approximately £463,000, between June next year and June 2012, completely independently of any targets. The shares are intended to replace the awards he would have been granted by Santander, th

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