Bonus and Donaldson

ceo: I have offered to resign and the board have been very supportive, and I have actually asked that I'll waive my bonus this year in response to what's happened, Donaldson said, according to The Guardian. The CEO did not confirm the size of his forgone 2018 bonus, which is expected to be detailed in the bank's annual report next month, but Donaldson took home a hefty bonus of 800,000 for 2017, which made up a bigger portion of his 1.5m pay package than his 650,000 salary. Craig Donaldson told the Guardian that he offered to resign after the mistake came to light, but will be staying after gaining the full support of the bank's board, which is chaired by its American founder Vernon Hill. The lender has been in the spotlight after an accounting blunder in Januarysent its shares plunging by 50%. Hundreds of millions of pounds of commercial property loans and loans to commercial buy-to-let operators had been wrongly classified in risk terms and should have been among its risk-weighted assets RWAs . The bank originally suggested it had discovered the issue itself, but it later emerged that the error was caught by the UK regulator. The share price went into reverse again on Tuesday after the new fundraising plan was announced, closing down nearly 16% at 13. Within days of the disclosure on 23 January, the bank's stock price fell from about 22 per share to a record low of 10.87, before recovering. (news.financializer.com). As reported in the news.