Standard Life bosses bag £2m each in 2011

TWO directors of insurance firm Standard Life earned more than £2m each last year, according to figures contained in the firm’s annual report released yesterday.

Chief executive David Nish took home £2.04m, including a £1m bonus, while there was a seven per cent pay rise for Keith Skeoch, head of the group’s asset management arm, which pushed his income from £1.87m to £2m.

Another director, Jackie Hunt, was rewarded for her promotion to chief financial officer with a pay packet that more than doubled to £1.22m.

The firm’s renumeration committee justified the pay packages on the basis of strong annual results that saw operating profit before tax rise 28 per cent to £544m.

Group operating capital and cash generation was 53 per cent higher at £438m.