Royal London chief pockets £2.9m pay package

Posted by | April 29, 2015 | News

Royal London chief executive Phil Loney scooped a £2.9 million pay package in 2014, up from £2.6 million in 2013.

Alongside a salary of £634,000, Loney (pictured) received a £151,000 pension supplement, £904,000 as part of the company’s short term incentive plan, and £1.1 million in long term incentives which vested.

Royal London Asset Management chief executive Andrew Carter received a total pay package of £1.6 million in 2014, lower than the £1.7 million package he took home in 2013. On top of his base salary of £354,000 , he received pension benefits of £144,000, a short term incentive plan award of £389,000 and £747,000 in longer term incentive plans vesting.

Carter was appointed as chairman of Royal London’s wrap platform Ascent ric in January.

Group finance director Tim Harris, who joined Royal London in May 2014, was awarded a total pay package of £640,000 in 2014.

Chief risk officer Jon Macdonald received a package of £881,000 in 2014, compared to £756,000 in 2013.

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