An alliance of dozens of the biggest pension funds in Britain has renewed its attack on the London Stock Exchange, warning that it should not be pushing to weaken boardroom standards in listed companies any further.
Council pension schemes with assets of £350 billion have repeatedly called on Don Robert, chairman of the parent London Stock Exchange Group, to justify claims that the old listing rules were damaging London.
The Local Authority Pension Fund Forum said that it had not heard back from Robert over a third letter of complaint, sent on August 30, in which it said it was “resolute” about its concerns about the role of the LSE chief executive Dame Julia Hoggett.
Dame Julia Hoggett has argued that some company bosses need higher pay to deter them from moving their listings from London to the United States
HOLLIE ADAMS/BLOOMBERG/GETTY IMAGES
This year the forum said Hoggett risked “poisoning the well”