PIRC : independent research and advisory consultancy

PIRC is the UKs' leading independent research and advisory consultancy providing services to institutional investors on corporate governance and corporate social responsibility. Since 1986, it has been the pioneer and champion of good corporate governance within the UK.
Authoritative resource
PIRC has a wide spectrum of clients ranging from pension funds, faith-based investors, trade unions to banks and asset managers. Its Corporate Governance Service is an authoritative and vital resource for active investors, whilst its widely-read Shareholder Voting Guidelines provide a market-wide benchmark for investors and forms part of the movement for corporate governance reform and long-term wealth creation strategies for responsible investors.

For more information about PIRC or to arrange a meeting, contact Janice Hayward, or call us on 0207 247 2323.

Showdown looms over HSBC bonuses

May 25 2008

Financial Times

Directors at HSBC are heading for a potentially bitter showdown with shareholders over a remuneration package that could reward the bank’s most senior executives with more than £100m over the next three years.

The scheme, made up of generous annual bonuses and long-term incentives, could see a number of directors receiving up to 12 times their basic salary each year for the next three years.

The remuneration report is expected to be the focus at the bank’s annual meeting on Friday.

Pirc, the investor body, is recommending that shareholders vote against the scheme. Earlier this month, the Association of British Insurers, which represents some of HSBC’s biggest shareholders, signalled its concern by issuing an ”amber top” alert on remuneration.