Friday, 27 March 2015
Last updated 57 min ago
May 20 2010 | 11:01am ET
A sizeable number of Gartmore Group shareholders expressed their outrage at the golden parachute guaranteed its CEO by voting against its pay report.
Jeffrey Meyer is guaranteed £5 million payout if he is terminated without cause, equivalent to twice his current annual salary and twice his target bonus, HedgeFund.net reports. That didn’t sit well with a fair number of Gartmore shareholders.
Some 17% of them either abstained or voted against the director’s pay report at the firm’s annual meeting, Gartmore said.
It is the latest sign of dissension at the firm, which took a public relations hit when it suspended star hedge fund manager Guillaume Rambourg in March for violating firm policy. Rambourg was reinstated last month, even though Gartmore found that he had improperly directed trades to favored brokers, but not before Rambourg’s partner and top Gartmore manager Roger Guy blasted the rules that led to Rambourg’s suspension.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…