Tough self-questioning in Dublin

Whilst the future shape of shareholder engagement responsibility is debated in London, Brussels and across continental Europe, the debate in Dublin is a fierce as anywhere.

In what is traditionally a very close-knit investment and business community, the Irish Stock Exchange (ISE) and the Deputy Prime Minister participated in a full and frank …… continue reading >>

Bailout Barons’ Bounty

The top five executives at the 20 US banks that have accepted the most bailout support averaged $32 million each in personal compensation in the period 2006 -2008, according to a new study published by the Washington-DC based Institute for Policy Studies. At the same time more that 160,000 employees have lost their …… continue reading >>

US Bank Boards after the crisis

A research study by Manifest’s US partners, PROXYGovernance Inc(PGI), reveals some interesting trends about US board governance. PGI’s review of Russell 3000 companies holding their 2009 annual meeting prior to July 1 reveals that boards of financial services firms have added fewer new directors since the sub-prime credit crisis began than boards in any other …… continue reading >>

He who shouts loudest: who’s pulling the strings of cross-border voting reform?

Any choral singer will be familiar with the concept: a choir singing an acapella section will often naturally go ‘flat and lose pitch’, only to have to painfully re-adjust pitch when the orchestra joins in. Conversely, if the orchestra were to be playing in the wrong key (as a violinist and singer, a cruel …… continue reading >>

Sir David Walker’s 39 Steps

Sir David Walker’s review of the governance of UK banks, commissioned by Prime Minister Gordon Brown, has published 39 recommendations aimed at improving the governance of  banks and other big financial institutions (BOFIs). The aim of the report was to find ways of minimising risky behaviour and improving the way companies and shareholder communicate and interact.

Many …… continue reading >>

Britain’s Bankers: Still Cashing In

Earlier this year Manifest was approached by Channel 4′s Dispatches documentary team to help them with a review of executive pay following the revelations of Sir Fred Goodwin’s pension arrangements. In this episode, “Britain’s Bankers: Still Cashing In”, Manifest works with journalist Jane Moore to help her understand the complexities of executive pay and …… continue reading >>

Treasury Select Committee calls for governance overhaul

Banks were ownerless corporations whose shareholders gave their governance role a low priority. That’s just one of  the damning conclusions from the UK’s Treasury Committee which has released its third report on the Banking Crisis. The report entitled “Banking Crisis: reforming corporate governance and pay in the City” has a wide brief looking not just …… continue reading >>

All Change At The Top Of Europe’s Banks

Half of Europe’s biggest banks have changed their chief executive or chairman in the past 12 months, leaving question marks over their leadership experience just as the first signs emerge of an economic recovery.

Ten of Europe’s 20 largest banks by market capitalization or scale of investment banking operations have appointed new heads …… continue reading >>

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