Norway wealth fund to vote in favour of UniCredit remuneration plan

The UniCredit compensation package will be approved by OSLO( Reuters )- Norway’s$ 1.3 trillion sovereign wealth fund, one of the biggest individuals in the world, it said on Sunday.

On March 31, the European banks is scheduled to hold its quarterly meeting of shareholders.

If UniCredit surpasses a number of goals this year, owners will be asked to approve the CEO Andrea Orcel’s new spend structure, which offers an increase of 30 %.

The former head of investment banking at Swiss lender UBS is currently one of the best-paid bank executives in Europe thanks to Orcel’s annual salary of up to 7.5 million euros($ 8.06 million ).

According to fund data, the Norwegian fund holds 2.65 % of UniCredit’s shares, which are worth about$ 728 million at the end of 2022.

( 1 x 0. 301 euros )

( Writing by Gwladys Fouche, reporting by Nora Buli, and editing by Terje Solsvik. )

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