Pay Us More to Boost the City of London, Say FTSE Chiefs

THE TELEGRAPH: Square Mile bosses call for more government action to boost pension funds’ investing

Julia Hoggett, chief executive of London Stock Exchange, called for more to be done to address the pay gap between UK and US execs CREDIT: Hollie Adams/Bloomberg
Low executive pay is the biggest obstacle to boosting the City of London, FTSE bosses have said.

A new survey of 150 directors at London-listed companies found that lower pay for City chiefs compared to rival financial centres was holding back the London Stock Exchange (LSE) as a listing venue.
The research, carried out by investment bank Numis, adds to growing complaints in the Square Mile that Britain is being held back by a campaign against high pay.

Julia Hoggett, chief executive of the LSE, has said a pay disparity between UK chief executives versus their US counterparts has “not received enough attention” and called for a level playing field to stem an exodus of companies.

Chief executives of S&P 500 companies in the US make on average $10m more than FTSE 100 counterparts, according to data from Equilar and Deloitte published earlier this year. » | Simon Foy | Tuesday, July 25, 2023

One’s heart bleeds for these hard-done-by executives. How dare the system short-change them like that? – © Mark Alexander