StanChart plans US$1b buy-back for first time in 20 years

In the letter written on Thursday and made public on Monday, Committee Chairman Frank Field asked why the remuneration committee put forward a proposal where the existing directors would receive 40% of base salary (20% of total salary) as the pension contribution whereas the contribution of new executive directors is limited to 10% of total salary.

LONDON: Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

Standard Chartered Plc is buying back ordinary shares for the first time in more than 20 years as chief executive officer Bill Winters seeks to put misconduct and profitability woes behind the Asia focused lender.