Clydesdale Bank investors rebel over directors’ pay

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More than a third of shareholders in the company that owns Clydesdale and Yorkshire banks have voted against the pay of its top executives.

CYBG, which has taken over Virgin Money, said it “recognises the large numbers of votes opposing the resolution” on pay.

It said it would hold more discussions with shareholders to understand their views on pay.

Under CYBG’s pay plans, chief executive David Duffy’s bonus may increase.