One of the largest UK pension and insurance firms has opened the door to backing US-style mega-bonuses for London listed companies despite fears that executive pay is fuelling inequality and encouraging “short-term risk taking”.
Legal & General Investment Management has updated its pay policy to say there is room for the “necessary flexibility” needed to attract the best talent. It acknowledges “an increased push” by UK companies towards “remunerations structures that are more closely aligned to US-style pay”.
