Simon English: No cakes for Carnwath after Diamond's bonus
Thursday 26 April 2012
Outlook Is an investment banker the best person to set investment banker pay? Barclays and its brilliant chief executive, Bob Diamond, have good reason to think so.
Alison Carnwath, a corporate financier for two decades before she embarked on a "portfolio career", has been head of the Barclays' remuneration committee since 2010. During that time Diamond Bob has trousered an amount of money that would keep him in hair dye and golf club membership – should he have any need of either – until 4037 (that's a forecast from a City economist, so can't be relied upon entirely). Still, it's only fair, since men of his stature can generally expect to live at least 3,000 years.
A small number of radical agitators – City investment houses with a grudge against society – have lately suggested that Mr Diamond's pay may be toppy. Cripes, they are even thinking of registering a small and ineffectual protest vote. That's how furious they are about how our money is spent.
Ms Carnwath is up for re-election at the Barclays annual meeting tomorrow. Pirc, the pensions consultancy that must always be described as either "powerful" or "influential", say she should be held accountable at the AGM. By which they may mean: no cakes, only one mug of tea.
According to City AM, "friends" of Ms Carnwath believe she is "being unfairly singled out" for criticism. Like most investment bankers, she reasonably considers that she should be praised when times are good and defended when times are bad. Really, just what are this rabble of moaners on about? Don't they realise that with a following wind Ms Carnwath could become the first female chairman of Barclays?
Still, if she herself decides that it may be time to counteract the perfectly unfair view that she's a company stooge who will say yes to any banker passing, she could take matters into her own hands and do the decent thing.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...