ISS and Glass Lewis concerned new long-term bonus could reward bosses regardless of performance

Metro Bank is at risk of a shareholder backlash after two influential shareholder advisers warned about a complex bonus scheme that could hand the bank’s chief executive a £60m windfall.

ISS and Glass Lewis, prominent proxy advisory services that suggest how shareholders should vote on company policies at annual meetings, are concerned that the new long-term bonus will be linked to the bank’s share price, which may climb regardless of how well bosses run it.