Well, here we go again.

Tbh,I think if he has any sense he will decide not to take it.He isnt being paid it in ££££ btw,its share options,which if he doesnt do his job properly,could be worthless this time next year.He isnt allowed to sell the share options and cash them in for quiet some time,so I suppose its an incentive to make the bank run efficiently,which will be good for the taxpayer.
He was a brave man to take the job on after the Fred the shred regime had destroyed it.Sir Fred was paid £4.2 million including a bonus of £2.86 million in 2007, while he was in the process of wrecking RBS. Labour giving him a Knighthood was a real bona fide scandal imo,and it makes Hester look like the bargain of the century.

Its actually a small bonus for someone in his position,but he hasnt exactly turned the business around.To be fair though,anyone who restores a bank to its former glory in the current global financial climate would be a miracle worker rather than a CEO.
On balance,I dont feel strongly about it one way or the other.Doesnt seem that unreasonable for someone doing that job,but it would be very good PR indeed for the industry if he decided not to bother taking up his options.I dont suppose he will go short of a hot meal because of it.