Saturday, 28 March 2015
Last updated 1 day ago
Mar 18 2013 | 2:36pm ET
The struggling Man Group will pay its top bosses no bonuses for last year and will permanently cap them going forward.
Man said annual cash bonuses will no longer exceed 250% of salary. That's significantly more than the 100% cap imposed on banker salaries by new European Union regulations, and higher even than the 200% cap allowed in some circumstances with shareholder approval.
Man will also award deferred bonuses only after a three-year performance assessment, it said in its annual report.
"The new plan will increase transparency and alignment with shareholders whilst reducing the complexity and likely quantum of awards," Man said.
Man also said it would pay its new CEO, Emmanuel Roman, the same US$1 million salary it paid his retired predecessor, Peter Clarke.
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…