One to Watch: Douglas Flint

Investors’ group Pirc is calling on members to oppose the re-election of the HSBC chairman on Friday, making him the latest target for the shareholder spring.

Pirc cites Flint’s executive capacity as “an obstacle to independence” and is also recommending that shareholders vote down the bank’s remuneration report. HSBC chief executive Stuart Gulliver is in line for a pay package worth nearly £8 million, while the bank’s bonus scheme has drawn criticism from trade unions as 2,000 staff face the axe.