Head of RBS investment bank pressed to waive £5.6m bonus Mr Hourican is one of the only surviving senior executives still at RBS who served under Sir Fred Goodwin. He worked as finance director in the investment bank and head of leveraged finance. In 2009 Mr Hourican was granted 21.3m shares and 7.4m options for leading RBS's ambitious investment banking strategy. Although the options are only exercisable at 28.2p the 21.3m shares will vest this April. At yesterday's share price of 26.4p they were worth £5.6m. In March 2010 - following the investment bank's most successful year - Mr Hourican got £7.7m pay package: £700,000 salary, a short term bonus of 15.5m shares at 37p, which equated to £5.9m, 1.6m shares in long term awards at 48.9p which equated to £770,000 and a pension contribution of £294,000. In 2011, his total package was worth £6.2m. This year, his salary is likely to have increased to £750,000 and his short term bonus award is likely to be in the region of 4m shares, though no final decision has yet been made. The controversy over bonus payments comes as moves to strip the bank's former chief executive Sir Fred Goodwin of his knighthood step up a gear. Officials are due to meet this week to discuss whether Sir Fred, who is widely blamed for the collapse of RBS, should lose his knighthood. Asked when a decision could be made, David Cameron said: "The Forfeiture Committee will be meeting, as I understand it, this week." On Tuesday, Sir David Walker, the former banker who oversaw the Financial Service Authority's report into the bank's failure, agreed that the report amounted to a censure of its former chief.