Fund managers ‘asleep at the wheel’ over exorbitant executive pay

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BlackRock and Vanguard have been accused of being “asleep at the wheel” for failing to tackle exorbitant executive pay in a sign of the growing public and political pressure fund managers are coming under to rein in excessive remuneration packages. A study by non-profit As You Sow said the world’s largest fund managers have rubber-stamped pay packages for many of what it classes as the US’s most overpaid chief executives.

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