Elliott Advisors exec in £38m pay bonanza

 
Michael Bow
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ONE OF the top directors at Elliott Advisors took home £38m last year, one of the highest single pay packets for an executive during the period.

Elliott, a US hedge fund with a substantial operation in the UK around St James’s, disclosed the windfall in an annual accounts filing at Companies House during the past week.

The director, who was not named in the accounts, benefited by the group’s rising fee income, which doubled to £103m for the year ending December 2013.

Elliott is a so-called activist investor – which buys up small stakes in companies and pressures management into making operational changes – and recently launched a raid on supermarket giant Morrisons by telling it to hive off its freehold properties.

The £38m sum looks small compared to some of the fees on offer for Wall Street’s biggest hitters.

Apollo Global Management boss and co-founder Leon Black took home $546.3m (£339.7m) in pay and dividends last year.

And Blackstone boss and co-founder Steve Schwarzman was paid $465.4m (£289.5m) overall last year, accounts have shown.

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