atans1

StanChart: More unhappiness

In Banks, Corporate governance, Emerging markets, Temasek on 30/04/2019 at 4:31 am

Another influential shareholder advisory influencer, Institutional Shareholder Services, has recommended that investors vote against Standard Chartered’s pay policy at its annual meeting next month and described the bank’s method of calculating executive pension allowances as “disingenuous”.

ISS said that investors should cast their ballot against the emerging-markets bank in a binding vote on its pay policy on May 8 because of a change in how it calculates executive pension allowances.

Glass Lewis published a similar recommendation earlier.

Together,Glass Lewis and ISS usually influence over roughly a quarter of votes in any listco: a sizeable number. But Temasek is relaxed about the bank’s pay policy: StanChart mgt think they like PAP ministers isit?

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