TC0708PN82

12 November 2008: For Immediate Release

TREASURY COMMITTEE TO HOLD EVIDENCE SESSION ON INCENTIVE STRUCTURES AND EXECUTIVE REMUNERATION IN THE BANKING SECTOR - CONFIRMATION OF WITNESSES

As part of its wider inquiry into The Banking Crisis, the Treasury Committee announced on Friday 7 November an evidence session on incentive structures (including remuneration policies) within financial institutions, and their potential effects on financial stability, both at the institutional and system-wide level. The Committee can now confirm the witnesses for this session.

The evidence session will take place at 2.30 pm on Wednesday 19 November 2008 in the Wilson Room, Portcullis House with the following witnesses:

2.30pm

Carol Arrowsmith, Partner at Deloitte

Ronnie Fox, Principal of Fox Law Firm

Peter Hahn, FME Fellow, Corporate Finance and Governance, Sir John Cass Business School

Charles Cotton, Reward Advisor, Chartered institute for Personnel and Development (CIPD)

3.30pm

Brendan Barber, Secretary-General, TUC

Peter Montagnon, Director of Investment Affairs, ABI

Jonathon Taylor, LIBA

Miles Templeman, Director-General, IOD

The session is expected to cover:

€ The relationship between the structure of remuneration packages and excessive risk-taking within financial institutions

€ How incentives within financial institutions can best promote long-term sustainable growth and financial stability, both at the institutional and system-wide levels

€ What approach the Financial Services Authority should take with respect to remuneration within financial institutions

€ The role of remuneration committees and shareholders in providing oversight of compensation packages within financial institutions

€ The need for a co-ordinated international approach to executive remuneration in the banking sector

€ Good practice around the disclosure and transparency of compensation arrangements within financial institutions.