Funds Hub

Money managers under the microscope

Hayes makes while the dollar shines

October 9, 2009

Man Group seems to be doing quite well out of currency movements.

rtxc0gaLast week the group’s trading statement showed dollar weakness boosted assets under management by $2.1 bln over the half year to end-September.

This week a survey by Accountancy Magazine shows Man Group finance director Kevin Hayes was the best paid FD in the FTSE 100, thanks this time to weakness in the pound.

The survey actually shows that Hayes’ pay actually fell in the year to March ’09 to $3.6 mln from $4.4 mln, as Man’s assets and profits have fallen.

However, the currency effect lifted him comfortably above Tesco FD Andrew Higginson, BHP Billiton’s Alex Vanselow and Imperial Tobacco’s Bob Dyrbus.

(See also Payday at Man Group and Man Group still waiting for the wave)

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