RBS boss Ross McEwan to give half his salary to charity

Ross McEwan, CEO at the Royal Bank of Scotland (RBS), is going to give part of his remunerations to charities for the third year in a row, Sky News reports.

The news comes as RBS is about to announce its results from 2015 on Friday. The bank is expected to report losses for the eighth consecutive year. 73% of RBS is owned by taxpayers.

Last month, RBS reported that pensions and the mis-selling of provisions combined with money being put aside to pay forthcoming settlements with US regulators would take a £2.5billion chunk out of the bank’s 2015 results.

McEwan became the CEO of RBS in December 2013. Since then he has been working to turn the bank around. His transformation plan has meant making thousands of people redundant in an effort to cut costs and changing RBS’ focus into becoming a corporate and retail bank.