17 October 2008
10th October 2008
Rt Hon John McFall MP
House of Commons
London SW1A 0AA
Dear Sir,
Banking Bonuses
I was very pleased to read that the Treasury Select Committee is to examine the large scale financial rescue package. I was particularly pleased that it will look at the bonus culture in the City, and the damage that this might have caused.
In this respect I hope that the committee will find my book (enclosed) useful. The book rigorously examines the incentives that arise from the typical structures of pay of top managers and executive directors. It shows how the incentives are very often too short term in outlook and too individualistic to ensure a coherent long term focus at the top of an organisation. It also proposes forms of pay that are much better aligned to the long term needs of shareholders.
With best wishes for your difficult job in these most difficult times.
Yours faithfully,
Revd Patrick H. Gerard
Rt Hon John McFall MP
House of Commons
London SW1A 0AA
Dear Sir,
Banking Bonuses
I was very pleased to read that the Treasury Select Committee is to examine the large scale financial rescue package. I was particularly pleased that it will look at the bonus culture in the City, and the damage that this might have caused.
In this respect I hope that the committee will find my book (enclosed) useful. The book rigorously examines the incentives that arise from the typical structures of pay of top managers and executive directors. It shows how the incentives are very often too short term in outlook and too individualistic to ensure a coherent long term focus at the top of an organisation. It also proposes forms of pay that are much better aligned to the long term needs of shareholders.
With best wishes for your difficult job in these most difficult times.
Yours faithfully,
Revd Patrick H. Gerard
Labels: Bonus, John McFall, Treasury Select Committee
