LONDON, June 8 (Reuters) – Investors are losing faith in the
computer-based trading models that made them millions in the
bull market years, as Europe’s financial convulsions have shown
how poorly they cope with the unpredictable.
Once beloved of funds dealing in scores of securities across
the globe, the sovereign debt crisis and its daily assault on
markets have exposed weaknesses in the ‘black box’ investment
approach, now seen by some as a liability rather than an asset.
LONDON, June 1 (Reuters) – Two of Xstrata’s top 10
shareholders lashed out on Friday at the miner’s “excessive”
plans to pay a $46 million retention package to its CEO,
threatening its big-ticket takeover by Glencore.
Mick Davis is slated to receive a three-year retention deal
worth almost 30 million pounds if Xstrata’s $30 billion takeover
by the commodities trader proceeds.
LONDON, May 28 (Reuters) – Bond investors say they could
stop funding Europe’s fragile banks if rules designed to
insulate them from shocks are put in place, making financial
institutions even more vulnerable to the debt crisis and
possibly more reliant on taxpayer money.
Global regulators want bondholders to give up a privileged
position which gives them a priority over other investors if a
bank runs into trouble, in favour or people who deposit their
money in an account.
LONDON, May 8 (Reuters) – Investment managers are risking
f ines, career-long bans and even jail time by unwittingly
breaking compliance rules, consultants and lawyers warn, as the
regulator starts to get tough.
Fund firms and asset managers responsible for millions of
pounds of clients’ cash have so far been largely spared the
intense scrutiny other financial professionals have got used to
in the fallout from the global financial crisis.
LONDON (Reuters) – Company directors will remain under pressure from shareholders over executive pay long after the market downturn ends and lawmakers stop the heckling that has helped prompt votes against remuneration policies at this year’s annual meetings.
Investors and directors say the days of shareholders rubber-stamping company resolutions at Annual General Meetings (AGMs) is over and directors will have to get used to investors being more vocal on many areas of company business.
LONDON, May 4 (Reuters) – Company directors will remain
under pressure from shareholders over executive pay long after
the market downturn ends and lawmakers stop the heckling that
has helped prompt votes against remuneration policies at this
year’s annual meetings.
Investors and directors say the days of shareholders
rubber-stamping company resolutions at Annual General Meetings
PARIS/LONDON (Reuters) – For Henri Proglio, outspoken chief executive of French utility EDF (EDF.PA: Quote, Profile, Research, Stock Buzz), a victory for Socialist Party candidate Francois Hollande in Sunday’s presidential poll could prove particularly costly.
Proglio, who earned 1.6 million euros ($2.1 million) last year, could be one of the most prominent victims of the cap on CEO pay at state-controlled companies Hollande advocates, but many more top French executives will also have a wary eye on the forthcoming vote.
LONDON, April 30 (Reuters) – Lobby group FairPensions is
calling on British savers to demand tougher action from money
managers in the fight against overpaid corporate executives, who
it says blight British industry.
Even though pension funds and individual savings account
(ISA) providers hold hefty stakes in Britain’s elite companies,
FairPensions believes the average consumer has been robbed of
influence in the campaign to curb bonuses and salaries by fund
firms who fail to reflect their clients’ views in votes on pay.
LONDON, April 25 (Reuters) – High levels of pay among senior
bankers are becoming a lightning rod for investors increasingly
dissatisfied with the paltry returns they are getting from
European banks and this is likely to stir them to revolt at
upcoming shareholders’ meetings.
The focus on disappointing dividends for investors and
generous remuneration for bankers will increase pressure on an
industry already facing criticism from the public and
politicians for its reluctance to accept its share of
responsibility for the global financial crisis.
LONDON, April 23 (Reuters) – A fund that invests in an index
of EU-regulated hedge funds is waiving its annual charge to
clients, a rare move in an industry known for high fees, in a
bid to win back hedge fund investors driven away by the
The Axiom UCITS Alternative Investable Index Fund, launched
in December 2010, has dropped its 1 percent management fee and
replaced it with a 10 percent performance fee, it said on