Barclays shrugs off criticism of executive pay April 9, 2012 BARCLAYS is relaxed about the row over bonuses for its top executives and would be unfazed if an expected 10 per cent of shareholders vote against its remuneration report, said a source familiar with the bank’s thinking. The bank has shrugged off criticism amid suggestions that four of its biggest British institutional shareholders could cast [...]
CITY MOVES WHO’S SWITCHING JOBS April 24, 2012 DC Advisory Partners The corporate finance advisory firm has announced the appointment of Terry Huffine as executive director in its European consumer, leisure and retail team. Huffine joins after eight years with ABN AMRO and, following its acquisition, at the Royal Bank of Scotland, where he was a director on the consumer team. He also [...]
CITY MOVES WHO’S SWITCHING JOBS April 24, 2012 DC Advisory Partners The corporate finance advisory firm has announced the appointment of Terry Huffine as executive director in its European consumer, leisure and retail team. Huffine joins after eight years with ABN AMRO and, following its acquisition, at the Royal Bank of Scotland, where he was a director on the consumer team. He also [...]
City pay revolt: Long live this most capitalist of revolutions May 3, 2012 OFF with their heads: the message from shareholders is becoming louder and angrier by the day. “Listen to us”, they are rightly telling company boards, “you work for us. We pay you. Stop behaving as if you own the place.” And that’s exactly the point: CEOs are merely shareholders’ paid hands. The real capitalists are [...]
City pay revolt: Long live this most capitalist of revolutions May 3, 2012 OFF with their heads: the message from shareholders is becoming louder and angrier by the day. “Listen to us”, they are rightly telling company boards, “you work for us. We pay you. Stop behaving as if you own the place.” And that’s exactly the point: CEOs are merely shareholders’ paid hands. The real capitalists are [...]
SVG shake-up as rebels fail to win vote March 20, 2012 PRIVATE equity investor SVG Capital has faced down a shareholder revolt and will continue with plans to diversify beyond Permira, the buyout firm in which it has traditionally invested. SVG won 66 per cent backing for the change yesterday although nearly 34 per cent of the votes went against it. It also won virtually unanimous support to [...]
Trinity Mirror faces uproar over Sly Bailey’s pay packet March 11, 2012 TRINITY Mirror is said to be taking seriously concerns raised by top shareholders about the rewards bestowed on chief executive Sly Bailey, ahead of the media group’s results on Thursday. The company’s top shareholders – Schroders, Aviva Investors, Standard Life and Legal & General – collectively own 42 per cent of Trinity Mirror and have [...]
FTSE in modest rise as investors eye Fed April 24, 2012 The FTSE 100 saw a modest rally this morning led by banking and commodity stocks as investors looked for signs that the Federal Reserve will inject more liquidity into markets. London’s blue chip index was dented yesterday by uncertainty over who will be the next president of France, the collapse of the Dutch government and [...]
Why most investors don’t care if Diamond gets rich April 9, 2012 IT used to be big news if the likes of Standard Life, Scottish Widows, Fidelity and Aviva combined forces to vote against a company’s remuneration report. Such a roster of big British institutions would have had the clout and the votes to make the company reconsider its intentions or risk a very bloody nose. Hence [...]
DIVERSITY MAKES GOOD SENSE FOR EVERY BUSINESS January 26, 2012 GROUP CHIEF EXECUTIVE, AVIVA IN DAVOS last year, the World Economic Forum stirred debate by insisting its strategic partners include at least one woman in their delegations. A month later, Lord Davies released his report Women on Boards, recommending targets for the number of women on company boards. At Aviva, we believe that a balanced [...]