The pandemic should have led to a kinder, gentler and fairer world of finance. This year began with Larry Fink, chief executive of £6.6 trillion investor Blackrock, extolling the virtues of better governance. Instead, the greed is good culture is back.
Executives working for quoted companies may feel hard done by the standards of instant billionaires created by initial public offerings, big fees at investment bankers and the returns made by the private equity barons. But that can be no excuse for taking rather than giving, and the excessive pay-outs being lavished.
The blame for fat-cat pay is often directed at flaccid pay committees and the cosy relationship with remuneration consultants drawn from Big Four accounting firms.
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