Standard Life's David Nish sees his pay package nearly double

Standard Life, the savings and investment business, has released details of the remuneration of its executive directors. While base salaries for two of its three top staff were frozen, the total sum paid to the trio rose from £6.7m to £11.9m in 2012. Chief executive David Nish saw his pay nearly double as it shot up from £2.6m to £5m.

The firm delivered a thumping dividend in March, our reporter James Waterson:

On the same day that rival insurer Aviva yesterday cut its payout, Scottish prudence allowed Standard Life to hand shareholders a special dividend of 12.8p per share.

The Edinburgh-based insurer agreed to return an extra £302m to investors as group pre-tax profits rose by two-thirds to £900m for last year.

Chief executive David Nish attributed his company’s success to “building strong positions in our core markets”.

(Full article)