Nuns challenge Goldman Sachs ‘excessive’ pay

Goldman Sachs

Business digest: Four orders of nuns request review of remuneration policy

LAST UPDATED AT 17:34 ON Mon 4 Apr 2011

Four orders of nuns are challenging the lavish bonuses given to Goldman Sachs' most senior employees in a proposal which demands a review of the bank's remuneration policies.
 
The Sisters of Saint Joseph of Boston, Notre Dame de Namur, St Francis of Philadelphia and the Benedictine Sisters of Mount Angel are all investors in the bank.
 
One of their requirements is an evaluation of whether senior executive compensation packages are "excessive". The company's five most senior employees received a total of £43m between them last year.
 
The orders have made similar attempts in previous years, but with no success. Goldman has said it will resist the request.
 
Read a full report at the Guardian. · 

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