Garrett-Cox: My £1m bonuses went straight back into Alliance Trust

Alliance Trust chief executive Katherine Garrett-Cox has defended her remuneration package ahead of a crucial week for the company, saying she has fully reinvested her 2014 and 2015 bonuses as a sign of "commitment".

Speaking to Investment Week, Garrett-Cox (pictured) said the 127-year old company's battle with hedge fund Elliott Advisors would prompt "a period of reflection" whatever the outcome, but suggested the arrival of three new non-execs would cause a breakdown of trust at board level. She also suggested her salary, which has become a focal point of Elliott's attempts to shake-up the trust by installing the trio of non-executive board members, is more transparent than those of her asset management peers. Elliott's criticisms of her remuneration were soon backed by former Alliance Trust dir...