Plan to freeze bankers’ bonuses gets support

The Bank of England

LONDON: One of Europe’s largest independent shareholder advisers is backing the Bank of England’s call for restraints on bankers’ pay while the coronavirus roils the economy.

Tim Bush, head of corporate governance at Pensions & Investment Research Consultants, said banks shouldn’t pay any bonuses at all to their senior executives. That echoes the stance taken by the UK’s central bank, which had already forced major lenders to cease paying dividends and buying back their shares.