New York (HedgeCo.Net) – Man Group announced in its annual report that it plans to cap future cash bonuses for its senior executives.
“Man said that short-term annual cash bonuses, which were previously uncapped, would be limited to 250 percent of salary for executive directors after discussions with shareholders.” Reuters reports.
The hedge fund giant’s shares have fallen by two-thirds since the start of 2011. The change in policy on bonuses comes under new chief executive Emmanuel Roman, who took up his job last month.
Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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