atans1

HoHoHo: StanChart CEO learning from our ministers

In Banks, Corporate governance, Emerging markets, Temasek on 22/03/2019 at 10:58 am

He also gets a free pass from Temasek.

FT reports that StanChart is facing an investor rebellion over its chief executive’s pay after the bank changed how it calculated his pension in a way that falls foul of UK corporate governance guidelines. This comes as executives at the UK’s largest listed banks are being subjected to rising pressure to reduce their pension payments so that they are in line with the majority of staff.

StanChart’s CEO will receive a pension allowance of £474,000, which is the highest of any chief executive of a large UK-listed bank.

But unlike UK investors, Temasek, StanChart’s biggest shareholder, a person close it said it did not share other investors’ concerns on pay at the bank.

Related post: HoHoHo: Time for StanChart’s CEO to go?

Comprehensive list of articles on what went wrong with this investment: HoHoHo: Temasek’s “rogue bank” kanna caught again

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