Saturday, 4 July 2015
Last updated 11 hours ago
Jun 8 2011 | 10:28am ET
The Man Group has rewarded CEO Peter Clarke's work in progress with a handsome bonus for nine months' effort.
The hedge fund said yesterday that Clarke received a US$1.75 million bonus for the last nine months of last year, the same amount he received for the previous 12 months. Man is changing its fiscal year to match its calendar year, as part of its integration of acquisition GLG Partners.
While Man suffered outflows and a drop in net profits last year, the firm said that Clarke and other executives had made "significant progress" on the five priorities the firm set out last year.
Clark's total compensation package for the 12 months through March 31 was US$2.697 million, or US$1,000 more than he earned in the previous 12 months. His salary of US$925,000 did not change—and will not change this year, and he received a US$750,000 cash bonus and US$1 million in deferred pay.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…