<iframe src="//www.googletagmanager.com/ns.html?id=GTM-K3L4M3" height="0" width="0" style="display:none;visibility:hidden">

Any other business

Why the bankers’ bonus debate is not going away

Plus: The fate of AstraZeneca, and the curse of the Gherkin

3 May 2014

9:00 AM

3 May 2014

9:00 AM

A bouquet to Alison Kennedy, ‘governance and stewardship director’ at the Edinburgh-based pensions provider Standard Life, for leading the rebellion of Barclays shareholders against the bank’s decision to pay increased bonuses of £2.4 billion, far outstripping dividends to shareholders and despite a fall in profits. At last week’s AGM, 34 per cent of shareholders refused to endorse the board’s remuneration report after Kennedy declared herself ‘unconvinced’ that the bonus pot was ‘in the best interests of shareholders’ and warned of ‘negative repercussions on the bank’s reputation’.

Already a subscriber? Log in

Get 10 issues
for $10

Subscribe to The Spectator Australia today for the next 10 magazine issues, plus full online access, for just $10.

  • Delivery of the weekly magazine
  • Unlimited access to spectator.com.au and app
  • Spectator podcasts and newsletters
  • Full access to spectator.co.uk
Or

Unlock this article

REGISTER

You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.


Comments

Don't miss out

Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.

Already a subscriber? Log in

Close