Investors punish Clydesdale bank over executive pay

Clydesdale bank sign

Investors have delivered a blunt rebuke to Clydesdale Bank, the former National Australia Bank spin-off, with more than a third of votes opposing its payments to top executives.

The parent company CYBG, a United Kingdom bank that owns the Clydesdale Bank brand and has large number of Australian shareholders on its register, copped a 34.2 per cent vote against its annual report on remuneration, at its annual general meeting in Melbourne on Wednesday.

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