Paul Myners spoke to the National Association of Pension Funds on governance. He spoke of the role of institutional investors in taking the initiative. He also looked at how executive remuneration has spiralled and illustrated the failure of governance in the past. He moved on to discuss how institutional investors and their clients might benefit from greater engagement in equity underwriting and said investors should act in their own interests rather than needing government intervention. The Exchequer Secretary, Sarah McCarthy-Fry, also spoke on remittances and payments in the context of financial inclusion.