Fink collects £6m pay package from Man

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The Independent Online

Stanley Fink, the chief executive of Man Group, cemented his place among the country's best-paid businessmen last year when he was awarded more than £6m in cash and bonus.

Mr Fink, who runs the world's largest listed hedge fund group, pocketed a £5.5m bonus in the year to the end of March on top of his £426,000 basic salary and benefits worth £71,000. The 48-year-old received a further £3.7m in performance-related shares, half of which he bought at 1,436p each from his bonus.

Mr Fink's existing Man shares paid dividends worth £2m. Share options worth another £2.6m mature in four years, provided performance targets are met.

Kevin Davis, the chief executive of brokerage arm Man Financial, and Chris Chambers, the former head of the Man Investments asset management division, shared £5.1m in cash, bonuses and benefits.

Man shares fell 102p to 2,265p yesterday, but have soared by almost 500 per cent since 2000.

The popularity of hedge funds has grown immensely among large City investors, because they can employ a wider range of investment styles across a bigger range of assets to make money even in falling markets.

Earlier this month, Man revealed that annual profits had jumped 51 per cent to £702m after fees surged 278 per cent to £242m.