Member access

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

Delayed Quote. Delayed London Stock Exchange - 10/24 11:35:10 am
1115 GBp   +1.46%
2d ago STANDARD CHARTERED : Director/PDMR Shareholding
2d ago STANDARD CHARTERED : "Think Asia, Think Hong Kong" Opens Next Week in Europ..
3d agoSTANDARD CHARTERED PLC : quaterly sales release
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

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

04/29/2012 | 11:41am 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
Latest news on STANDARD CHARTERED PLC
1d ago MORGAN STANLEY : On a mission to root out poverty
1d ago STANDARD CHARTERED : credit card for travelers
1d ago STANDARD CHARTERED : New York's Separate Entity Rule Reaffirmed by the New York ..
2d ago STANDARD CHARTERED : Director/PDMR Shareholding
2d ago STANDARD CHARTERED : Charter premiers to introduce new WorldMiles Card
2d ago STANDARD CHARTERED : "Think Asia, Think Hong Kong" Opens Next Week in Europe
3d ago Initial price guidance on Isbank's dollar-bond MS +355/365 bps -bankers
3d agoSTANDARD CHARTERED PLC : quaterly sales release
3d ago INDIA : Important to see through volatility - Standard Chartered
3d agoDJASIA MARKETS : Asian Stocks Pull Back After China Manufacturing Data
Advertisement
Chart
Duration : Period :
Standard Chartered PLC Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF