Wednesday, 25 May 2016
Last updated 5 hours ago
Oct 18 2010 | 11:39am ET
There was joy and there were tears across Mayfair last year, as employees of Lansdowne Partners enjoyed hefty raises and partners at Moore Capital Management's European arm were forced to make do with much, much less.
Lansdowne paid its 87 employees £25.2 million last year, a 51% jump from 2008. The big increase came despite a big decrease in profit at the firm, which fell on a pre-tax basis from about £1 million to just £127,873, according to The Telegraph.
Moore's profit fell much less precipitously, with revenues at Moore Europe Capital falling just 6%. But the partnership—made up of Moore founder Louis Bacon, top fund manager Greg Coffey and two corporate members—split just £40 million in profits last year, down from £142 million in 2009, according to Financial News.
The reason? Moore's European arm saw expenses skyrocket, cutting into the partnership payout.