Friday preview: Expect fireworks at British Land AGM

15th Jul 2010 16:54

It's the turn of British Land shareholders to rough up the bosses when they roll up for tomorrow's AGM at the Cumberland Hotel in Park Lane.Investors have already had a go at Marks & Spencer, Burberry and Sainsbury's this week, but the real estate giant faces perhaps the toughest showdown.Lord Turnbull, former head of the civil service and now remuneration committee chairman at British Land, has approved an award of 1.3m share options and other share incentives to chief executive Chris Grigg.Corporate governance advisory group Pirc said the "combined potential remuneration is excessive". Grigg received £800,000 of British Land restricted shares last year.At the 2009 AGM, 51% of shareholders either voted against or abstained from approving the firm's executive pay policy.Elsewhere, fixed income fund manager BlueBay Asset Management is lining up a trading update for Friday.It said last month it had hired Deutsche Asset Management's Mark Dowding to help it launch a European government bond business later this year. At its last update in April, the company said assets under management had risen 8% between eth end of 2009 and 31 March to $37bn.