PracticeConsultingFD heads for £2m pay barrier.

FD heads for £2m pay barrier.

Robert McCullough, 58, the American-qualified FD of investment management group Amvescap, earned £1,635,000 last year according to the company's 2000 annual report and accounts, up from £1,071,000 in 1999.

Most of his total take-home pay is comprised of a £1,358,000 bonus on top of his basic £274,000 and £3,000 in benefits. He was also granted options over 100,000 shares, which are already showing a profit of about £1 a share – though he won’t be able to exercise those options for almost three years.

McCullough has options over another 950,000 shares, at an average exercise price of £3.48. With the shares currently standing at around £12, McCullough is sitting on an unrealised profit of £8.2m.

But Amvescap doesn’t seem keen to draw attention to such details. Three separate requests to the company for the full annual report and accounts resulted in Financial Director being sent the ‘summary annual report’ – which, being just seven pages shorter differs from the full report and accounts only in that it excludes a detailed breakdown of directors’ pay.

Financial Director is a monthly sister magazine to Accountancy Age.

For more details email financial_director@vnu.co.uk.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer