Man Execs. See Pay Cuts As Profits Fall

Mar 19 2012 | 11:30am ET

With his company's profit falling by more than half last year, Man Group CEO Peter Clarke also had to make due with less in 2011.

Clarke was paid a total of US$6.98 million last year, Man said. In the last nine months of 2010, Clarke made US$7.46 million, which adds up to a 30% haircut.

Clarke was paid US$925,000 in base salary, US$1.5 million in stock awards, US$1.25 million in options and a cash bonus of US$1 million.

Finance chief Kevin Hayes also suffered a big pay cut, getting $2.44 million, 42% less than his annualized pay for the prior nine months. Emmanuel Roman, the former GLG Partners co-CEO who now serves as Man chief operating officer, got US$1 million.

Man's pretax profit fell to $262 million in the nine months through December, compared to $599 million in the 12 months through March 2011.

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