Pirc, the activist corporate governance adviser, has recommended 'no' votes on executive pay packets and plans at Barclays at its general shareholder meeting on Wednesday - but unlike rival ISS, it is backing chief executive Jes Staley.
Pirc said in a note today, May 9, it regards Staley's £4.2 million pay cheque last year as "inappropriate" given its 49:1 ratio to Barclay's average employee.