COMPANIES Leading London bankers on Thursday hit out at government-backed recommendations to rein in executive power and make public the details of top bankers’ salaries, saying the proposals were overly bureaucratic and populist.
One senior British banker at an American investment bank equated proposals in the Walker Review, published on Thursday, to the provisions of Sarbanes-Oxley legislation in the US, which imposed strict new governance requirements on listed companies in the wake of the Enron scandal and the era of dotcom excess.
