Royal Bank of Scotland Group Plc, Britain's largest government-controlled lender, cut pay for its investment bankers by 26 per cent after politicians demanded moderation in rewards for 2011.
RBS paid its investment bankers an average of about 112,000 pounds ($176,108) each including salary, bonus and pension, spokeswoman Linda Harper said by phone on Thursday, a drop of 26 per cent from 152,000 pounds last year. Prime Minister David Cameron's government and the opposition Labour Party have made common cause in demanding pay restraint from banks bailed out.
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