RBS says its remunerations for its staff will remain unchanged after new boss, Kamal Hassan

AUSTRALIA’S biggest bank has confirmed that its remit for its top management will remain intact after Kamal Hasssan was named as the new CEO.

The RBS Group said its remoteness policy for senior executives would continue, as it is “essential” that all senior executives are paid the same remunerated rate as all other staff, and the new chief executive would have full control over all aspects of RBS’s business.

“We are pleased to confirm that our remunerational arrangements for senior management will continue to be in place and will reflect the importance of remunerative remuneratory arrangements for all senior employees,” the bank said in a statement.RBS chief executive officer Kamal Hassanin speaks to the media during a press conference in London in this August 23, 2017 file photo.

A new CEO will also have the authority to appoint a deputy to oversee the group’s corporate functions and make appointments to senior management roles.

The bank said its chief executive will be responsible for the groups strategy, and oversee the organisations governance and financial operations.

“The RBC Group is proud to be a leader in the Australian economy and in Australia’s technology sector and to be part of a group of leading Australian banks,” Mr Hasssan said in the statement.

“It is important to me that the roles of the senior executives at the RBS group remain the same and the remunerator remunerate remains the same.”

Mr Hasssan’s appointment comes as Australia faces an uncertain global economy.

It has seen the world’s worst stock market collapse since 2008 and the Australian dollar slump.

The government has announced it will start taxing Australian exports and will seek to impose an import tax on goods from the US and Canada.

Mr Hassanin, who joined RBS in 2001, previously worked for the US bank Morgan Stanley.

The Australian Government has also proposed a $12 billion tax on financial services to raise $10 billion.RBC’s shares have fallen about 16 per cent this year.