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City regulator boss Martin Wheatley on £650k pay package
Financial Conduct Authority chief executive Martin Wheatley received a remuneration package of £650,000 last year, it has been revealed.
The package included a bonus of £86,000 for the year 2012/13, ranking Wheatley among the highest paid public servants in the country, according to Sky News.
The figures will be published in today’s annual report which covers the final year in office of the FCA’s predecessor, the Financial Services Authority.
Wheatley is understood to have been paid a base salary of £430,000 and received pension contributions and other benefits of approximately £150,000 on top of his annual bonus.
Formerly head of the markets regulator in Hong Kong, Wheatley joined the regulator in September 2011 as managing director of the FSA’s conduct business unit.
He was criticised for not acting quickly enough to force banks to pay compensation to victims of the Libor interbank borrowing rate scandal.
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Wheatley’s total salary in the year before last amounted to £399,657, including a £29,000 bonus for seven months’ work.
However it paled in comparison to Wheatley’s predecessor, Sir Hector Sants’ salary which was a total pay package of £835,731.