MILAN (Reuters) – UniCredit investor Cariverona is in favour of the pay package the Italian bank has agreed with its new Chief Executive Andrea Orcel, a source at the Italian banking foundation said on Tuesday.
Orcel’s pay package of up to 7.5 million euros ($8.9 million) has been criticised by leading shareholder advisers Institutional Shareholder Services (ISS) and Glass Lewis, which have recommended investors reject the pay policy.
($1 = 0.8440 euros)
(Reporting by Gianluca Semeraro; editing by Agnieszka Flak)
