Direct Line revolt

INSURER Direct Line suffered a shareholder revolt over bosses’ pay.

Nearly a quarter of voting investors opposed 2017 pay deals in a ballot at the annual general meeting.

The protest was due to new chief finance officer Penny James’s £ 657,000 base salary, 38pc more than her predecessor’s. It led to condemnation from shareholder advice groups ISS and Glass Lewis, and the firm suffered a 23.4pc vote against its pay report.

Onesavings Bank and investment firm Rathbone Brothers were also hit by votes against pay policies, of 16.3pc and 14.9pc respectively.