Bonham Carter attacks EU proposals on manager pay

Jupiter chief executive Edward Bonham Carter has criticised EU proposals to cap fund manager bonuses, saying the moves could jeopardise industry stability.

Last month a European Parliamentary committee approved a ban on manager bonuses which are higher than salaries, with the full European Assembly set to vote on the plans in May. MEPs last week suggested the proposals could be watered down to bring them in line with planned curbs on bankers’ salaries, which allow bonuses of up to twice the amount of fixed pay. But Bonham Carter, speaking to Investment Week, suggested any plans which limit fund groups’ use of cyclical remuneration policies could put more strain on the industry in periods of downturn. “I do not think the plans are a go...