Maybe RBS needs a different kind of boss?
So Roger Carr of the Confederation of British Industry thinks that when Stephen Hester failed to receive his bonus of nearly a million pounds the prospect of finding the best person to run a British bank next time we nationalise one was damaged. He said so in The Times. (Yes, I know. Paywall. Boo.) "The chances of enticing others to take on difficult tasks of national importance have undoubtedly been jeopardised," wrote Carr. Let's unpack that, shall we? First, why does he believe it would be necessary to "entice" someone? What if, when a CEO left, everyone else at the bank moved up a slot in the hierarchy and someone from university were recruited for the job at the bottom of the rung? Is that just too silly as a theory? Or are chief executives of banks so solipsistically creative that you could never learn to do their jobs by watching them closely and talking to them about it five days out of seven? To assume not suggests that the wrong deputy has ...