RBS deputy sells

With the Scottish referendum safely out of the way, Royal Bank of Scotland deputy chief executive Chris Sullivan has wasted no time cashing in his chips.

Just hours after the Scots' "No" vote Sullivan sold 81,900 RBS shares at 367.55p each worth a cool £301,000. It also comes only a month since being awarded almost half-a-million-pounds of free shares as part of a controversial new pay scheme.

Carefully skirting new rules on bankers' bonuses, ten RBS executives were last month handed stock worth £3.5 million. Still 81%-owned by the taxpayer, the Edinburgh-headquartered bank is prevented from paying staff a bonus of any more than 100%.

But at least Sullivan held out longer than David Stephen. RBS's chief risk officer offloaded 45,000 shares on 9 September at 341p. Currently at 366p, Stephen's impatience cost him over £11,000.

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