£844,000 package for Alliance chief

KATHERINE Garrett-Cox (pictured), chief executive of Alliance Trust, enjoyed a 25 per cent rise in her pay package last year to £844,645, plus a £68,850 contribution to her pension.

Her pay packet included a 405,000 salary and 420,000 bonus, 69 per cent of the total she could have been awarded.

Garrett-Cox is currently fending off the demands of activist investors who want the Dundee firm to cut the discount on the value of its assets to its share price. Last year's results showed total returns down 5.4 per cent.