Bank chief: 'Many bankers paid more than they're worth'

The chairman of Royal Bank of Scotland has admitted that a large number of bankers are paid more than they are worth.

Sir Philip Hampton blamed what he called a "gangmaster" culture in investment banking and he also suggested that bonuses are not a true reflection of the performance of most banks.

The BBC's Business Editor, Robert Peston, has this exclusive report.

  • Published
  • Section
    BBC News