AllianzGI warns it may vote down big payouts if firms have cut jobs

Asset manager says it will also scrutinise ‘generous’ pay packages if companies have had state aid during Covid Companies that are handing “generous” pay packages to executives while taking government aid, cutting dividends or slashing jobs during the pandemic could face a shareholder backlash according to Germany-based Allianz. Allianz Global Investors (AllianzGI), which manages €582bn (£503bn) worth of assets, warned it could use its shareholder powers to vote against pay awards at the upcoming annual shareholder meeting season. Read full story