Friday, 26 August 2016
Last updated 14 hours ago
Aug 10 2010 | 11:32am ET
If and when the Man Group’s deal to acquire GLG Partners is accused, the hedge fund giant’s CEO will be taking a back seat to GLG’s leaders when it comes to salary.
Noam Gottesman, Emmanuel Roman and Pierre Lagrange are each guaranteed base salaries of US$1 million, documents released by Man show. Peter Clarke, Man’s CEO, earns just US$925,000 a year in base salary. Jon Aisbitt, the firm’s chairman, takes home a paltry US$450,000.
Of course, base salaries are only a small part of the total compensation earned by any of the five men; Clarke took home a total of US$2.7 million last year. The GLG trio took home much more.
Man shareholders are set to vote on the proposed acquisition next month, with GLG shareholders to vote shortly thereafter.