NEW YORK: US state officials responsible for investing hundreds of billions of dollars in pension funds have launched an assault on New York Stock Exchange (NYSE) chairman Richard Grasso, demanding his resignation while arguing that his US$140mil pay package compromised his role as regulator.
New York Comptroller Alan Hevesi, in demanding Grasso’s resignation, issued a statement on Tuesday criticising the controversial pay package. Hevesi is the sole trustee overseeing the US$105bil New York State pension fund.
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