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

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

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04/29/2012 | 04:41pm CEST

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
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Financials ($)
Sales 2017 14 609 M
EBIT 2017 4 264 M
Net income 2017 1 270 M
Debt 2017 -
Yield 2017 1,80%
P/E ratio 2017 27,26
P/E ratio 2018 14,76
Capi. / Sales 2017 2,38x
Capi. / Sales 2018 2,24x
Capitalization 34 737 M
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Standard Chartered Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Technical analysis trends STANDARD CHARTERED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 23
Average target price 9,15 $
Spread / Average Target -13%
EPS Revisions
Managers
NameTitle
William Thomas Winters Group Chief Executive Officer & Director
José Viñals Chairman
Doris Honold Group Chief Operating Officer
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
Michael Gorriz Group Chief Information Officer
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