Man Group’s finance boss is highest-paid in FTSE 100
MAN GROUP’S finance director, Kevin Hayes, was the best-paid finance director in the FTSE 100, raking in £2.9m last year, according to data in Accountancy Magazine, the journal of the Institute of Chartered Accountants in England and Wales.
But Hayes’ package fell short of last year’s highest earner – mining giant Rio Tinto’s finance director Guy Elliott, who earned £4.65m for the year.
The news comes as the average pay for finance directors plummeted by 13 per cent, with directors in the financial services industry particularly badly hit.
“The results show a significant reduction in the number of annual bonuses paid to directors during the year,” the journal’s editor Sally Percy said.
“And while long-term incentive schemes are still paying out, the impact of the recession will surely be seen in these schemes for years to come,” she added.