Member access

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

Delayed Quote. Delayed London Stock Exchange - 09/18 11:35:19 am
1227 GBp   -0.04%
9h ago C-View taps ex-Standard Chartered exec to manage new currency fund
11h ago The Fed to hike rates in Q2 next year- Brice
13h ago STANDARD CHARTERED : Executives Allotted Shares (DIRECTOR DEALINGS)
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

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

04/29/2012 | 10:41am US/Eastern
Recommend:
0

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
Recommend :
0
React to this article
Latest news on STANDARD CHARTERED PLC
9h ago C-View taps ex-Standard Chartered exec to manage new currency fund
11h ago The Fed to hike rates in Q2 next year- Brice
13h ago STANDARD CHARTERED : Executives Allotted Shares (DIRECTOR DEALINGS)
13h ago STANDARD CHARTERED : Director/PDMR Shareholding
13h ago STANDARD CHARTERED : Aug China SME Confidence Index Down to 58.7
15h ago MASHREQBANK : Mashreq Bank not interested in Standard Chartered's assets
15h ago STANDARD CHARTERED : Mashreq eyes Egypt, Turkey acquisitions
17h agoDJShanghai Gold Exchange Launches International Board
1d agoDJShanghai Gold Exchange Launches International Board
1d ago Dubai lender Mashreq sets sights on Egypt and Turkey, says CEO
Advertisement
Chart
Duration : Period :
Standard Chartered PLC Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Income Statement Evolution
Standard Chartered PLC : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF