Nice work if you can get it

The Guardian reports:

Royal Bank of Scotland has handed its new finance director almost £2m in shares on his first day in the job at the bailed out bank.

Ewen Stevenson was awarded 584,506 shares, which will be released to him over three years to buy him out of pay deals he left behind at his previous employer, Credit Suisse.

He is on an annual package worth £1.9m a year, made up of an £800,000 salary, £280,000 in pension contributions, £26,250 in benefits and £800,000 in "allowances", a vehicle used by banks to get round the EU bonus cap.

Because he's worth it?