The Financial Times ran a piece on Tuesday in which Bill Winters, the chief executive of Standard Chartered, criticised shareholders after almost 40% of them voted against the bank's pay policy at its annual meeting in May.
The concern is about the pension contributions to Mr Winters.
“Picking on individual pension arrangements . . . and suggesting that there is some big issue there is immature and unhelpful,” Mr Winters told the Financial Times.
Now the FT is quoting shareholders hitting back.
Five top-20 shareholders in the bank told the Financial Times that they were unimpressed by Mr Winters’ decision to attack shareholders. One big asset manager described the chief executive as “tin eared”.
Another large shareholder said: “As an immature investor, I’m going to not make any rash comments, but look forward to the fallout coming.”