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Dogged in pursuit of the fat-cats

Financial Times

By Emiliya Mychasuk and Emiko Terazono

Published: May 21 2009 03:00 | Last updated: May 21 2009 03:00

When the cultivated Scottish voice of Guy Jubb meted out his objections to the pay report at the Shell meeting in The Hague this week, it was backed by many years of campaigning.

The head of corporate governance at Standard Life since 1992, he has been doggedly consistent about discipline by boards on matters of pay – his complaints to Shell date back to 2003.

He was also among investors that voted down the GlaxoSmithKline pay report in 2003, which included a golden parachute for Jean-Pierre Garnier, in a historic vote in UK corporate governance records.

But his pay campaigns date further back to the 90s, when targets included GEC and, later, the establishment boards behind BA, BT and Marconi, among others.

Mr Jubb has a reputation for being very clear on complex issues, helped by training as an accountant.

Born in 1952, he did his chartered accountancy apprenticeship with Whinney Murray in Edinburgh in 1973 after graduating from Edinburgh University.

After eight years of accounting he went to the NatWest merchant banking arm, County, in 1981, and then joined Touche Ross in corporate finance in 1984. Just before a bear market in 1986, he went into fund management at Standard Life, as a marketer, and two years later set up a smaller companies team.

He shows no signs of giving up on his boardroom bugbears, led by long-term pay incentives for executives.

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