03 February 2012
Greater transparency and responsibility over executive remuneration demanded by the public, according to new research by AFM
New research commissioned by the Association of Financial Mutuals shows strong public support for greater transparency over top executive remuneration in financial organisations and a clear link between company performance and bonuses.
Over half (51 per cent) of respondents supported either a complete ban on bonus payments unless the organisation was making a profit, or that details of top executives’ pay and bonuses must be made publicly available. Nearly one fifth (18 per cent) supported both of these measures being implemented by financial organisations.
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The Mutual Manifesto challenges all political parties to show they understand the mutual sector.
Mutuals have proved themselves to be resilient in recent years and have seen rapid increases in market share between 2008 and 2010 being at the forefront of product innovation in the insurance sector.”
John Reeve Chief Executive
Family Investment 2011
The AFM Conference and Annual General Meeting this year was held at The Belfry, West Midlands, between 16 and 18 October.