Royal Bank of Scotland's head of investment banking, John Hourican, will receive almost 7.5 million pounds ($11.8 million) in pay, bonus and shares for last year.

The move is likely to fuel further fury about the size of payouts at the majority taxpayer-owned bank.

Hourican will next month receive 15.9 million shares, worth 4.2 million pounds, for a three-year award that ended last year.

The bank's annual report revealed the pay for its top executives, which showed the highest paid -- Ellen Alemany, head of its U.S. business Citizens -- could get 4.7 million pounds in pay, bonus and long-term award for 2011.

The second-highest paid, Hourican, got a 751,000-pound salary and a 2.5-million pound bonus for 2011, taking his pay for the year to 7.5 million pounds.

RBS did not name the executives, but they can be identified by their disclosed salaries.

(Reporting by Steve Slater; Editing by David Hulmes)