Consigned to history.
One of the City’s biggest investors in banks has told bosses that it will not tolerate mega bonus payouts at banks which are failing.
The Daily Telegraph reports that Royal London Asset Management manages more than £80bn of assets and holds shares in all major UK and European banks. It has issued a warning to executives that they should not expect to be paid enormous US-style salaries and bonuses, and particularly not when their firms are performing poorly.
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