View more on these topics

Aviva chief waives rise as provider announces pay review

Aviva chief executive Andrew Moss is to waive a pay rise as part of a move from the provider to quell shareholder anger over executive pay.

In a stock exchange announcement, Aviva says it is to review how it sets executive pay after a number of shareholders voiced concerns about pay levels following the publication of its remuneration report in March.

Moss was due to receive a 4.8 per cent pay rise to take his salary from £960,000 to just over £1m.

Aviva says: “Concerns have mainly centred on how we structure the compensation paid when we recruit executive directors and whether overall levels of remuneration, driven by the operating performance in 2011, appropriately reflect changes in shareholder value through the year.”  

The firm says its proposed levels of remuneration were an appropriate reward for Aviva’s operating performance and strategic progress in 2011 and a means of attracting and retaining key executive directors.

Recommended

Christchurch fined for client cash failures

The FSA has fined financial planning and portfolio management firm Christchurch Investment Management £26,600 for failings to adequately protect client money. Compliance officer David Thornberry has been fined £11,550 and banned from acting as a compliance officer or having responsibility for client assets, the first time the FSA has issued such a ban. Firms are […]

Data recovery

There is a growing sense of frustration from brokers at the difficulty in placing and managing mortgages through to completion. It seems both lenders and brokers would benefit from two-way communication on all things criteria-related. The number of criteria changes and the speed of their implementation is a crucial issue for many brokers, especially when […]

Laxey resolution defeated at Alliance Trust AGM

Almost fourth-fifths of Alliance Trust shareholders voted against a resolution to review the company’s management. At the annual general meeting of the £2.1 billion trust, shareholders were asked to vote on a resolution calling for the possibility of externalising the management of the portfolio and for shares to be sold at a price closer to […]

Neptune India: three stocks we’re buying & the one we’re not

By Kunal Desai, Head of Indian Equities The Neptune India Fund’s investment process serves as a key differentiating feature of the portfolio versus its peers, contributing to its significant outperformance under Manager Kunal Desai’s tenure. Focusing on industry disruption, accounting quality, liquidity and corporate governance, Kunal sets out three stocks that he’s buying in the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com