Leave fund managers' bonuses alone

It's pointless the EU involving itself with the issue of fund managers' bonuses. The industry will take care of the problem itself.

I wrote last week that the financial industry and the executives of the world's large companies would to a degree have only themselves to blame if governments started to have a go at regulating their pay.

After all, it has been clear since the crisis began just how the public feels about bank chiefs and the CEOs of public companies using a mixture of the talent myth and a lack of transparency to pay themselves many millions of pounds a year. And they have done nothing about it. So we had the caps on banker bonuses.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.