Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Cable warns FTSE chiefs to curb exec pay ahead of Barclays meet

Cable warns FTSE chiefs to curb exec pay ahead of Barclays meet

Business secretary Vince Cable has warned of further government intervention unless executive pay rises are curbed.

The Financial Times reported that Cable has written to the chairmen of FTSE 100 remuneration committees to warn that pressure for further government action is inevitable unless pay rises are curtailed.

His warnings come ahead of Barclays' annual meeting on Thursday, where investors are expected to register their disdain for the 10% rise in bonus payments in spite of a one-third drop in pre-tax profits.

In his letter to FTSE chiefs, Cable said: 'Excessive and disproportionate pay in the corporate sector damages popular trust in business and threatens to undermine business’ licence to operate.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Navigating geopolitical risk with ETFs

Navigating geopolitical risk with ETFs

ETFGI’s Deborah Fuhr on how investors can use exchange-traded funds to position their portfolio.

Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Your Business: Cover Star Club

Profile: How David Esfandi is shaping Canaccord Genuity WM

Profile: How David Esfandi is shaping Canaccord Genuity WM

After six months as chief executive of Canaccord Genuity David Esfandi's ambitions are taking shape

Wealth Manager on Twitter