Bosses at Scotland’s top 12 firms ‘paid £55m’

THE SNP is facing calls to tackle executive pay after new figures revealed that the bosses of Scotland’s 12 FTSE-listed firms took home almost £55 million.

David Nish, the outgoing boss of Edinburghs pensions giant Standard Life was the highest paid. Picture: Jon Savage

Campaigners say it shows that the issue of “fatcat pay” is not restricted to the City of London and needs action north of the Border.

David Nish, the outgoing boss of Edinburgh-based financial giant Standard Life, was the highest paid on £5.5 million last year, with his successor Keith Skeoch on £5.3 million.

Aberdeen Asset Management chief Martin Gilbert took home £4.8 million with a further five directors of the investment giant making £1m-plus salaries.

In total, 35 executives at Scotland’s biggest companies took home £55m last year, according to the research from the High Pay Centre. Nicola Sturgeon has pledged to place tackling inequality at the heart of her government’s policy drive.

The think tank is hosting a fringe event at this weekend’s Scottish National Party conference in Aberdeen and wants to see the issue pushed up the political agenda.

Director Deborah Hargreaves said: “Fatcat pay is most closely associated with the City of London, but dysfunctional and disproportionate pay gaps between executives and ordinary workers are also a big problem in Scotland.

“The SNP’s current dominance of Scottish politics gives them an opportunity to set an example to the rest of the UK in this respect.”