A top fund manager in the City of London has insisted that upper limits on boardroom pay are impossible to impose and that shareholders should focus instead on improving the link between performance and remuneration.
Dominic Rossi, global chief investment officer at Fidelity, which has £190bn under management, told the website hereisthecity.com (HITC) that he targets an improvement in long-term incentive plans rather than pay limits.
According to HITC, Rossi said: “If you approach executive pay from the point of quantum, you are setting yourself up to fail.”
In the article Rossi blames the US pay culture for inflating salaries in the UK.