Standard Life Chairman Says Boardroom Pay Is Too High

The chairman of Standard Life has said that pay across the UK’s financial services industry is too high, as more than a fifth of the insurer’s shareholders voted against its boardroom pay deals. The Edinburgh-based company, which held its annual meeting in London for the first time, said 22.3% of shareholders voted against the remuneration report for 2015. The protest vote would have been bigger had it not been for Standard Life’s announcement last week that its new chief executive, Keith Skeoch, would reduce his potential £3.5m long-term bonus by £700,000.