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Sanlam Is Concerned About Investec Executive Pay, Bus. Day Says

May 25 (Bloomberg) -- Sanlam Investment Management, which owns 5.2 percent of Investec Ltd., is concerned about executive pay levels at the bank, Business Day reported, citing Richard Anderson, head of corporate governance at Sanlam.

Anderson was reacting to a Citibank report that said Investec had overpaid for acquisitions and is raising pay even as earnings fall, the Johannesburg-based newspaper said.

To contact the reporter on this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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