A REPORT has revealed two top directors with Edinburgh-based Standard Life broke the £2 million pay barrier last year.
Group chief executive David Nish saw his total remuneration rise 3.6 per cent to £2.04m in 2011 from £1.97 the previous year, including a basic salary of £765,000, bonus of £1.04m and pension allowance of £222,000.
Keith Skeoch, boss of Standard Life’s asset management arm, saw his remuneration rise just under seven per cent to £2m from £1.87m in 2010, including a basic salary of £425,000 and a bonus of £1.46m, it was reported today.
In the biggest percentage rise, chief financial officer Jackie Hunt saw her remuneration rise 59 per cent from £766,000 to £1.22m, including a bonus of £593,000.
It followed her promotion to chief financial officer in 2010.
Crawford Gillies, chairman of Standard Life’s remuneration committee, said: “Our remuneration policy is aligned to the performance of individuals and of our business.
“Against a challenging economic environment, the company has continued to deliver growth in assets, an increase in operating profits and an increased dividend for our 1.5 million shareholders.
“I believe these awards are fair an reflect the continuing transformation of our business.”