Metro Bank investors urged to reject executive pay report

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Investors in Metro Bank are advised to reject the executive pay report due to a controversial bonus scheme that could award the CEO a windfall of £60 million. Proxy adviser ISS criticized the pay package for being misaligned with market norms ahead of the upcoming annual meeting.

Bonus scheme that could hand CEO a £60m windfall is ‘significantly out of line’ with market, says proxy adviser Investors in Metro Bank are being urged to vote against the lender’s pay report next month, in protest of a complex bonus scheme that shareholder advisers say is “significantly out of line” with market standards. Institutional Shareholder Services (ISS), which issues voting advice to some of the world’s biggest investors, made the recommendation weeks ahead of the bank’s annual meeting on 2 June. Continue reading...