DOW JONES NEWSWIRES

Royal Bank of Scotland Group (RBS, RBS.LN) Chairman Sir Philip Hampton told the board he will not collect on a deferred bonus he was granted when he first joined the bank in 2009, the Financial Times reported Saturday.

The bonus came with tough conditions that weren't met, the FT reported, so it's likely the bonus would have been worth "zero or close to zero," according to sources the FT did not name. When it was first awarded, it potentially could have been worth more than five million shares.

The bonus originated three years ago, but a political row forming in the United Kingdom over bankers' bonuses--in particular the GBP1 million award given to RBS Chief Executive Stephen Hester even as the bank announced it would lay off thousands of workers--likely added to Hampton's decision to forego the award.

Complete report: http://www.ft.com/intl/cms/s/0/fa30bae0-49c6-11e1-91b6-00144feabdc0.html#axzz1kiEZk4ks

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