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