Equitable AGM - papers 29 May

ANGRY POLICYHOLDERS yesterday voted down a new pay deal that would have rewarded Vanni Treves and other members of Equitable Life's board after the mutual admitted just how close it came to insolvency last year. The Times reports that the stormy meeting also heard that the decision to move out of equities into fixed income assets last year was "a bet", which if not made would almost certainly have led to administrators taking over. But saving the company's bacon was not enough to persuade members to vote through the remuneration proposals, particularly given the £1m that has b...