Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Amvescap's Management Transition Not Cheap Not Rated 4.0 Email Routing List Email & Route  Print Print
Thursday, March 30, 2006

Amvescap's Management Transition Not Cheap

by: Marie Glancy

Global investment manager Amvescap has handed over two big chunks of executive pay, one for its outgoing CEO and one for its new boss.

The company's annual report showed the company gave retiring chairman Charles Brady a $9 million bonus on top of his annual salary, and awarded incoming chief executive Martin Flanagan $11.75 million. The figures were cited in the Independent.

Amvescap, the London-based parent company of AIM Funds, Invesco, and Atlantic Trust, said Brady earned his compensation by showing "exceptional leadership" in fending off a hostile takeover and overseeing the recruitment of his successor. Brady founded Amvescap in 1978.

Flanagan's pay, meanwhile, compensated him for the loss of stock options he had accrued in his previous position as co-CEO at Franklin Resources.

Flanagan succeeded Brady as CEO last summer, and Brady will step down as company chairman next month.

The Independent report said the two executives' total pay for 2005 places them among the top five earners in the FTSE 100. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use