FCA's Martin Wheatley enjoys 15% pay rise

Laura Miller
clock

Financial Conduct Authority (FCA) chief executive Martin Wheatley saw his total pay deal from the industry-funded regulator rise by an inflation busting 15% last year to £701,000.

The figure, which includes a £92,000 performance fee, "a non-pensionable supplement in lieu of pension contributions" of £41,000 and the provision of a car and driver, makes Wheatley is the highest paid director at the FCA. His bumper pay packet dwarfs that of chairman John Griffith-Jones who received £192,000. Director of supervision Tracey McDermott is the next best paid FCA executive, taking home pay and benefits of £475,000 in the year to March, including a performance fee £20,000 higher than the previous year at £65,000. The figures are likely to anger advisers who have seen t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Targeted support: FCA shuns 'overly prescriptive' approach to vulnerability

Targeted support: FCA shuns 'overly prescriptive' approach to vulnerability

Considered prescribing how firms should support ‘vulnerable consumers’

Isabel Baxter
clock 30 June 2025 • 2 min read
Targeted support: 38,000 current advice users expected to switch

Targeted support: 38,000 current advice users expected to switch

Firms could generate up to £499 in revenue per customer

Isabel Baxter
clock 30 June 2025 • 4 min read
Targeted support: An 'expedient way' to meet Consumer Duty cross-cutting obligations

Targeted support: An 'expedient way' to meet Consumer Duty cross-cutting obligations

FCA urges firms to treat all recipients of targeted support as retail customers

Isabel Baxter
clock 30 June 2025 • 2 min read