Wheatley takes £92k bonus as total pay rises by 15%

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FCA chief executive Martin Wheatley received a £92,000 bonus for the year ending 31 March 2015, taking his total pay to £701,000.

Last year Wheatley did not take a bonus following the outcome of an enquiry into the regulator’s handling of the announcement of its closed book review.

His basic salary has remained static at £460,000, but the bonus means his total pay package has increased by 15 per cent compared to last year, when it totalled £610,000.

The FCA’s annual report, published today, shows that former FCA head of supervision Clive Adamson was paid a total of £438,000 in 2014/15, with a basic salary of £350,000.

In 2013/14 he was paid a total of £364,000 and a basic salary of £291,000.

Adamson resigned in December ahead of the publication of the closed book review. He was on six months notice and was put on gardening leave from January. His 2014/15 salary therefore includes pay up until 31 May 2015.

On a comparative basis, Adamson received a 3 per cent increase in his basic salary from £291,000 in 2013/14 to £300,000 in 2014/15. His total pay package rose by 5 per cent from £364,000 to £384,000.

FCA chairman John Griffith-Jones did not receive a bonus in 2014/15. His total pay was unchanged from the previous year at £192,000.

The median pay of the FCA’s workforce was £63,052 in 2014/15, down slightly from £63,199 in the previous year.