Asset managers write to FTSE companies calling for new group to settle issues - reports

Executive pay and overboarding

A coalition of some of the world’s largest asset managers have written to chairs of FTSE companies asking for a new group to be created to assist with discussions ahead of the 2023 AGM season.

According to the Financial Times, which saw the letter issued on Tuesday (17 January), contentious topics include executive pay and overboarding. The letter was written by The Investor Forum, which is formed of major asset managers including: abrdn, Baillie Gifford, BlackRock, Fidelity, M&G and Schroders. Collectively,  the members represent shareholders with more than £800bn in UK equities. According to the FT, the letter follows a report from Tulchan Communications published in November last year, in which chairs of FTSE companies said there had been a breakdown in relationships wit...