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Man Group's finance boss is highest-paid in FTSE 100

MAN GROUP&rsquo;S finance director, Kevin Hayes, was the best-paid finance director in the FTSE 100, raking in &pound;2.9m last year, according to data in Accountancy Magazine, the journal of the Institute of Chartered Accountants in England and Wales.<br /><br />But Hayes&rsquo; package fell short of last year&rsquo;s highest earner &ndash; mining giant Rio Tinto&rsquo;s finance director Guy Elliott, who earned &pound;4.65m for the year.<br /><br />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.<br /><br />&ldquo;The results show a significant reduction in the number of annual bonuses paid to directors during the year,&rdquo; the journal&rsquo;s editor Sally Percy said.<br /><br />&ldquo;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,&rdquo; she added.