Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Delayed Quote. Delayed  - 07/31 11:35:21 am
980.2 GBp   -0.30%
07/30 STANDARD CHARTE : Overseas Regulatory Announcement
07/30 Deutsche Bank says legal charges threaten its recovery
07/30DJBets Rise That China's Yuan Will Fall
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
07/31 STANDARD CHARTERED MODARABA : receives Global Finance consumer digital bank awar..
07/31 STANDARD CHARTERED : SCB Brunei Won Global Finance's Best Consumer Digital Bank
07/30 STANDARD CHARTERED : Corporate Corner: SCB recognised for leadership
07/30 STANDARD CHARTERED : scoops best consumer digital bank award
07/30 STANDARD CHARTERED : Overseas Regulatory Announcement
07/30 STANDARD CHARTERED : Invest in SCB and Win a Return Air Ticket
07/30 Deutsche Bank says legal charges threaten its recovery
07/30DJBets Rise That China's Yuan Will Fall
07/30 STANDARD CHARTERED : receives consumer digital bank award
07/29 STANDARD CHARTERED : '2016 budget disbursement key to growth'
Duration : Period :
Standard Chartered PLC Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Income Statement Evolution
More Financials