UniCredit top investor BlackRock voted against CEO pay
05/13/2021 | 04:13pm EDT
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MILAN (Reuters) -UniCredit s largest investor BlackRock voted against the remuneration package that last month turned the Italian bank s new boss Andrea Orcel into one of Europe s highest paid bank chiefs, a document showed on Thursday.
Minutes from the April 15 annual general meeting published on UniCredit s website showed BlackRock was among investors that voted against the pay policy, which got rejected by shareholders accounting for almost 43% of capital present at the AGM.
New York-based BlackRock, the world s largest money manager with $9 trillion in assets, is the top investor in UniCredit with a stake of 5.1%. A spokeswoman for BlackRock in Italy declined to comment.
UniCredit shareholder BlackRock voted against CEO pay
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