Investment Association response to Corporate Governance reform Green Paper
Tuesday 29 November 2016
Responding to today’s Green Paper on corporate governance reform, Chris Cummings, Chief Executive of the Investment Association said:
“Corporate Britain has to be run in a way that delivers long-term and sustainable returns so our customers, the UK’s savers, are better equipped to provide for their futures. We welcome the open and consultative nature of this Green Paper which will allow all stakeholders to offer their views and support the Government’s renewed focus on corporate governance to make sure companies are being managed in the long-term interest of shareholders, their customers and employees.
“In October the Investment Association called for the publication of pay ratios and told FTSE 350 companies that we expect them to improve disclosure of bonus targets and the Government’s proposals in these areas are welcome. We will continue to oppose complex executive remuneration structures, which are failing to motivate the people who run companies to deliver the best long-term returns to their shareholders.
“The UK should be proud of its global reputation as a leader in corporate governance standards. It is right that we do not rest on our laurels and continue to look for ways to make sure that companies are focusing on creating long-term value. Boards have a duty to collectively make better long-term decisions for the company they oversee and for all of its stakeholders whether they are employees, consumers or shareholders. The Government is right to ask how the voices of all of these groups could be better reflected in Board discussions."
-ENDS-
For further information please contact:
John Kenchington
Director of Communications
[email protected]
M 07834 089 332
Linsey White
Head of Media Relations
[email protected]
T 020 7269 4635
M 07508 724 022
Alex Hogan
Press and Digital Media Officer
[email protected]
T 020 7269 4620
M 07508 724 066
About the Investment Association:
- The Investment Association is the trade body that represents UK investment managers who manage over £5.7 trillion on behalf of clients.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.
For further information, please contact:
For media, to receive the full consultation document, please contact Helen Ayres
Helen Ayres, Communications Manager: [email protected]
T +44 (0)20 7269 4620; M +44 (0)7508 724 066
IA press office: [email protected]
About the Investment Association (IA):
- The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and the asset management industry supports 100,000 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages 35% of all assets managed in Europe.
