LONDON, Sept 23 (Reuters) - A group of Swiss pension funds has
demanded a say in the pay policies of the five largest Swiss-listed
companies, including UBS AG and Credit Suisse Group AG, an
investment group said on Tuesday.
Ethos, a sustainable investment group, said it had joined the
campaign alongside eight Swiss pension funds.
Together they have filed a resolution for the 2009 annual
shareholder meetings of ABB AG, Credit Suisse, Nestle SA, Novartis
AG and UBS requesting shareholders have 'a UK-style advisory vote'
on remuneration reports.
An advisory vote allows investors to voice their view on
directors pay but companies are not obliged to respond to the
The pension funds involved are the schemes for the cantons of
Aargau and Jura as well as schemes for the cities of Zurich and
Luzern. Also represented are schemes for Geneva's insurance workers,
Geneva's teachers and civil servants and for postal service
employees in Bern.
Ethos acts as a
consultant on sustainable investment issues and sells funds which
are managed through Pictet et Cie.
(Reporting by Cecilia
Valente; Editing by David Holmes) Keywords: SWITZERLAND PAY/