Proposal on board pay a concern

The Irish Association of Investment Managers has stated that it wants higher standards of corporate governance from Irish public companies and has dropped a strong hint that companies that do go along with the proposed changes covering the disclosure of director's remuneration may find it more difficult to raise funds in the future.

Mr Martin Nolan, investment manager with Norwich Union and chairman of IAIM's capital markets committee, told a conference on corporate governance in University College, Dublin, yesterday that Irish investment managers will continue to be substantial long-term investors in the Irish market post-EMU.