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cali Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 11:00 AM
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Nuns challenge Goldman Sachs over pay
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They may be the masters of the universe, but Goldman Sachs bankers will face a challenge from shareholders invoking an even higher authority; four orders of nuns.

The Sisters of Saint Joseph of Boston, Sisters of Notre Dame de Namur, the Sisters of St Francis of Philadelphia and the Benedictine Sisters of Mt Angel all investors in the bank have put their name to a proposal to review its remuneration policies, after it emerged its five most senior employees were collectively awarded $69.5m (43m) in pay last year.

The securities and exchange commission disclosed the challenge in a filing ahead of Goldman Sachs' annual meeting next month.

The nuns asked that "shareholders request that the board's compensation committee initiate a review of our company's senior executive compensation policies and make available a summary report of that review by 1 October, 2011 (omitting confidential information and processed at a reasonable cost). We request that the report include:

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http://www.guardian.co.uk/business/2011/apr/04/nuns-cha...
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