Sinead's Feed
May 7, 2012

Investor protest votes on pay here to stay

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

May 3, 2012

French CEOs to feel the pinch if Hollande wins

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.

Apr 29, 2012

Campaign group rallies UK public against boardroom “fat cats”

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.

Apr 25, 2012

Low returns stir Europe-wide revolt on bankers’ 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.

Apr 23, 2012

Axiom hedge fund portfolio waives management fee

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
financial crisis.

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
Monday.

Apr 23, 2012

UBS banker wins appeal against FSA

LONDON (Reuters) – The national financial watchdog has lost a key test of its powers to punish bankers for alleged supervision failures when a fine on a senior UBS banker was overturned by a court.

In a rare successful appeal against a fine imposed by the regulator, John Pottage was cleared of misconduct by Britain’s Upper Tribunal over compliance failings that occurred under his supervision at UBS’s British wealth management business, which he ran.

Apr 23, 2012

UBS banker wins appeal against UK watchdog

LONDON (Reuters) – Britain’s financial watchdog has lost a key test of its powers to punish bankers for alleged supervision failures when a fine on a senior UBS banker was overturned by a court.

In a rare successful appeal against a fine imposed by the regulator, John Pottage was cleared of misconduct by Britain’s Upper Tribunal over compliance failings that occurred under his supervision at UBS’s British wealth management business, which he ran.

Apr 19, 2012

UK banks under investor fire over excessive pay

LONDON, April 19 (Reuters) – Unhappy investors warned
British banks to brace for a sell-off in their shares unless
there is real action to stamp out excessive pay and reverse
shrinking rewards for shareholders.

After years watching boardroom bonus and salary hikes
outpace growth in their returns, investors say they are growing
tired of unanswered calls for change, with some tempted to skip
another fruitless war of words to vote with their feet instead.

Apr 18, 2012

Spain fund firm blasts German profiteering on Europe

LONDON (Reuters) – Germany must accept its fate as the euro’s financial backstop or quit meddling in how indebted members revive their economies, one of Spain’s leading fund firms said, in remarks likely to stoke fears of a Mediterranean backlash against austerity.

José Luis Jiménez Guajardo-Fajardo, chief executive of March Gestion de Fondos, the asset management arm of Banca March, said he sometimes felt Germany had a vested interest in an unsettled Europe and was cashing in on bailout nerves.

Apr 13, 2012

SWIP axes funds staff in equities overhaul

LONDON, April 13 (Reuters) – Scottish Widows Investment
Partnership (SWIP), the asset management unit of Lloyds Banking
Group Plc, is cutting 23 jobs in a strategy shakeup
that aims to poach clients from hedge funds and providers of
cheap index-tracking products.

The 143 billion pound ($228.1 billion) funds firm has
unveiled a new equity investment strategy to prioritise winning
business at both extremes of the market – from investors chasing
high returns using sophisticated higher-risk funds and those
seeking predictable outcomes via computer-driven trading.