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FTSE bosses average more than a £1m a year survey says

More than a third of FTSE-100 chief executives are paid in excess of £1m a year a survey conducted by Hay Management Consultants shows.

The sort of pay package received by Barclays chief executive Matt Barrett is becoming the norm. Barrett earned £1.3m for three months&#39 work this year.

However, British executives are still paid considerably less than their American counterparts, with US FTSE-100 chief executives paid an average of £2m a year.

The Government is expected to introduce legislative proposals in October to curb directors’ pay and tie it more closely to company performance. Any such proposals are expected to meet with strong opposition.


Aberdeen interested in Murray Johnstone

Aberdeen Asset Management has announced its intention to join the bidding to buy Glasgow fund manager Murray Johnstone. A highly competitive auction is expected, with Friends Ivory & Sime possibly interested, as well as several overseas bidders. The price is £150m, which many may see as too high. The announcement comes at a time when […]

Legal & General introduces immediate vesting

Legal & General has introduced immediate vesting, a new option for its existing personal pension plan that allows customers to pay a single premium to either top up their pension or take advantage of the carry forward/carry back rule.Carry forward/carry back gives a personal pension investor the chance to contribute to their pension for years […]

IFA Ethical Investment Co-Operative targets eco-friendly mortgage borrowers

Mortgage borrowers who are eco-friendly are being targeted for the new ethical mortgage service from IFA Ethical Investment Co-operative (EIC).The ethical mortgage is a joint venture with EIC, building consultancy Thirdwave and a panel of three building societies, Skipton, Yorkshire and Scottish.EIC will identify mortgages for the client that are offered by the three building […]

Bupa upgrades IFA services

Bupa is providing improved support to IFAs by upgrading its call centre technology. The new Point system will enable information that was previously stored on several different databases to flow more easily between Bupa staff and IFAs. The system will enable Bupa staff to produce instant quotes, order literature and access information specific to the […]


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