Virgin Money to boost bonuses
VIRGIN Money is this week set to approve banking bonuses of up to 200 per cent of executive’s salaries.
Sir Richard Branson’s banking arm will reveal investor approval for the move at tomorrow’s full-year results, according to Sky News.
The bonus decision comes as new European rules demand there should be a 100 per cent bonus-to-pay ration without shareholder approval. Virgin Money is unlisted, so does not need to disclose the information, but is set to list soon.