Daily pay of pounds 56,000 for 'genius'

A TRADER at a Japanese bank in London set a new goal for the City's ambitious money men when it was revealed yesterday that he earned pounds 56,000 each day, a total of pounds 14.5m annually, writes Ian MacKinnon.

Kaveh Alamouti, 39, an arbitrage trader with the Tokai Bank and a keen Queens Park Rangers supporter, last year doubled his pounds 7.6m salary received in 1992. According to company accounts, he earned pounds 6.27m as director of Tokai Bank Europe, and pounds 8.23m as a director of sister company Tokai Capital Markets.

A spokesman for the company said that Mr Alamouti, who has held the directorships for three years, and is known to stock market colleagues as a 'mathematical genius', had been awarded the performance-related sums because the bank had been highly successful.