Expert Perspective by Grahall’s OmniMedia Editorial Board
Sam Mamudi’s article for MarketWatch (February 12, 2010, Mutual funds silent on banks’ pay rises Despite big payouts amid profit drop, major shareholders stay mum) reminds us that “Despite public outcry at banker pay raises during a troubled market, mutual fund firms that are among the biggest shareholders of financial companies have been mostly silent on the matter. … One recent example is the lack of reaction to investment bank Lazard Ltd” changing its compensation policy. Mamudi continues: “The issue is less about Lazard’s compensation structure but the fact that the firm’s largest shareholders refuse to even discuss the subject [except for, perhaps,] … behind closed doors.”
Pity the poor mutual fund manager who might not like the decision by the board. What is he to do especially in this economy?
Continue reading “Behind Closed Doors” »