Member access

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Standard Chartered PLC    STAN   GB0004082847

Delayed Quote. Delayed London Stock Exchange - 01/30 11:35:21 am
887.7 GBp   -0.25%
01:21a STANDARD CHARTE : Standard Chartered
01/29 Standard Chartered board to discuss CEO succession at meeting - s..
01/29 After Vodafone, India changes tax rules to boost investment
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Standard Chartered Faces Holder Revolt As PIRC Balks At Pay-Newspaper

04/29/2012 | 10:41am US/Eastern

Investors in U.K.-based, Asia-focused bank Standard Chartered PLC (>> Standard Chartered PLC) are being urged by a major investment body to vote down a pay package for senior bankers collectively worth GBP56 million, amid concern that the bank hasn't been transparent enough with its shareholders about long-term bonus targets, the Sunday Telegraph reports.

Pensions Investment Research Consultants, or PIRC, has told investors to vote against the remuneration report for the bank at its forthcoming annual general meeting on May 9, the newspaper says, citing PIRC guidance.

The head of Standard Chartered's investment banking arm, Mike Rees, has received a package worth GBP8.2 million, the newspaper claims, comprised of a cash and shares bonus, performance awards and a salary. Rees's bonus -- which is nearly nine times his annual salary -- is highlighted in the PIRC report, the newspaper claims.

Neither PIRC nor Standard Chartered could immediately be reached for comment Sunday.

Reports of a potential revolt over pay at another bank come shortly after Barclays PLC (>> Barclays PLC) executives were reprimanded by investors at an annual meeting for spending too much money on pay and not enough on dividends. Over a quarter of investors in Barclays refused to back the bank's pay report.

Newspaper Web site: http://www.telegraph.co.uk

-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320

Stocks mentioned in the article : Standard Chartered PLC, Barclays PLC
React to this article
Latest news on STANDARD CHARTERED PLC
11:01a STANDARD CHARTERED : StanChart names Aaron Russell-Davison as head of debt capit..
01:21a STANDARD CHARTERE : Standard Chartered
01/29 STANDARD CHARTERED : Opening Bell: 1.29.15
01/29 Standard Chartered board to discuss CEO succession at meeting - sources
01/29 STANDARD CHARTERED : China's yuan marches toward major global currency status
01/29 Emirates NBD facilitates Stanbic in $85 million loan facility
01/29 Stanbic Bank Uganda signs $85m loan in Dubai
01/29 After Vodafone, India changes tax rules to boost investment
01/29 Stanbic Bank Uganda Limited US$ 85,000,000 Syndicated Term Loan Facility
01/29 CAR to Issue USD500mn Preferred Notes
Advertisement
Chart
Duration : Period :
Standard Chartered PLC Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF