West Bromwich Building Society a Binding Vote

June 2018 – The Westbrom Annual Report shows the society is intending to make the annual vote on its remuneration policy a binding vote.  The Westbrom will be the first building society to have a binding vote on pay policy.  Such votes within the industry are advisory only i.e. they are non-binding and therefore serve no purpose.

They are able to do this, as are all other building societies if they so wish, as the chances of a vote going against the society are virtually nil.