RBS deputy gets £500,000 pension

The last member of Sir Fred Goodwin’s failed top team at the Royal Bank of Scotland is set to retire with a £517,000-a-year pension.

Deputy chief executive Gordon Pell will retire early next year with a pension pot worth £9.8m.

He is the last survivor from the board which presided over the bank’s ill-fated expansion, including its takeover of Dutch bank ABN Amro in 2007.

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