SLI reviewing remuneration policy after Munro exits

Standard Life Investments (SLI) is reviewing its remuneration and incentives package for its staff following the departure of Global Absolute Return Strategies (Gars) co-founder Euan Munro.

In a conference call to clients today, Guy Stern, who was promoted to head of multi-asset and macro investing following Mr Munro’s departure, said SLI was looking at how best to retain its talent.

“There are reviews taking place about whether our compensation and incentives, and above all our long term lock-ins, are correct,” said Mr Stern.

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Mr Munro’s move to become chief executive of Aviva Investors came after Gars trio David Millar, Dave Jubb and Richard Batty left in September 2012 to join Invesco Perpetual.

Mr Stern said both Mr Munro and those who joined Invesco left because they were taking big steps up, not making a lateral job move, and he said SLI had “at least as good a retention policy as anyone else I have seen”.