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