Clydesdale and Yorkshire Bank investors rebel over bosses’ bumper pay packets

David Duffy CEO CYBG, Clydesdale Bank

Over a third of shareholders at CYBG, the company that owns Clydesdale and Yorkshire Bank, have voted against the bumper pay packages of the group’s bosses.

The investor rebellion comes after CYBG revealed plans to boost payouts and bonuses for chief executive David Duffy and chief financial officer Ian Smith.

Mr Duffy was paid £1.8million in 2018. Under the pay proposals, his potential bonuses would rise to 118 per cent of his salary, while his long-term share payout would rise to 177 per cent – meaning his total maximum payout would jump from £3.2million to £4.2million if all targets are met.

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