Fidelity lauded for taking stand on executive pay

Fidelity Worldwide Investment has stepped forward to register its opposition to overpaid executives by calling for firms to lengthen lock-in periods for share grants to at least five years. The privately owned firm, which manages about $217 billion for institutions and individuals globally (independently of Boston-based FMR, i.e. Fidelity in North America), last month changed its voting policy on executive remuneration to better align the interests of managers and owners over the …