Money managers under the microscope
A large (and not entirely unexpected) payday for John Paulson’s European arm.
Four members of Paulson Europe LLP shared 50.8 mln stg for the year to March ’09, up from 37.1 mln stg the previous year, company accounts show.
The highest paid member was likely to be John Paulson’s own company, Paulson Limited. But a tidy 22.2 mln stg was nevertheless divided between fellow members Nikolai Petchenikov, Harry St. John Cooper and Mina Gerowin Herrmann.
The payouts (not subject to the banker bonus supertax) are hardly surprising — Paulson has been one of the big winners out of the credit crisis, earning a reported $3.7 bln in 2007 (according to Alpha Magazine) betting on the subprime meltdown and then reaping huge gains in 2008 betting on the broader crisis.