NatWest criticised over £1.2m pay for boss with ‘limited experience’

Governance adviser says Paul Thwaite could have been offered lower starting salary than predecessor Alison Rose

NatWest has been criticised for paying its new boss a salary of 1.2m despite his limited experience" as a chief executive, amid a wider shareholder backlash in the City of London over bumper corporate pay.

As the government prepares to sell shares in the bank before the general election, Institutional Shareholder Services (ISS) warned that Paul Thwaite would be paid the same salary as the bank's former chief executive, Alison Rose, despite lacking her experience as a lead executive.