Man CEO Gets A Calendar Raise

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.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of