RBS boss 'underestimated' extent of bonus furore Royal Bank of Scotland boss Stephen Hester admitted today he had "underestimated" the furore his £1 million bonus would cause. Mr Hester, chief executive of the 83% state-owned bank, disclosed that he had considered resigning amid the political storm. But he said he believed it was essential to defuse the "timebomb" of the bank's balance sheet for the benefit of the taxpayer. "In the end, I came to the conclusion that it would be indulgent for me to resign," he told BBC Radio 4's Today programme.