The asset management firm Henderson has paid its staff £143.6m [$210.6m] in bonuses for last year, increasing variable pay by more than 11% as fund inflows and profits improved.
The Daily Telegraph reports that chief executive Andrew Formica was awarded a total of £3.7m [$5.43m] for 2014, down from almost £5m ($7.3m) in 2013 due to the timing of long-term share awards.
He earned 65% of his maximum short-term bonus, resulting in an award of £1.65m ($2.4m) included in his pay package.
For future years, the company has pruned the maximum short-term bonus that Formica can earn from 600% to just 500% of his base salary, and lengthened the time executives must hold long-term share awards to five years.
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Henderson's bonus pool grows to £144m after bumper year
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