Schemes should block Amvescap election says PIRC

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Institutional investors should oppose the election of Martin Flanagan to the board of asset managers Amvescap, governance experts say.

Chief executive Flanagan received a ‘make-whole’ cash payment of $11.8m (£6.6m) and 5m restricted shares when he joined Amvescap. Pensions and Investments Research Consultants has urged sharehold...

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