An influential proxy adviser is trying to put renewed pressure on Swiss asset manager GAM with regards to its remuneration policies, despite the overhaul they have seen over the past two years.
In a recent report, Institutional Shareholder Services has recommended its members vote against the non-binding consultative vote on GAM's remuneration report, which is to be presented to its shareholders at the annual general meeting on 8 May. Though the proxy adviser recommends shareholders vote in favour of all binding votes relating to retrospective as well as future compensation topics, it has highlighted some lingering concerns in a recent report. The key issue for ISS is that the variable compensation to GAM's executives other than the CEO and CFO is not capped in absolute term...
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