Four Walter Scott directors share £24m
Scottish investment manager Walter Scott & Partners paid its highest earner a package worth £10.17 million as the four directors shared a £24m payout.
This included £19.4m in salaries and about £4.7m in long-term incentive schemes. Staff costs were £58.9m, or about £368,000 for each of the 164 employees.
For the executive directors the majority of the compensation comprises a share of the company’s profits.
The accounts for the year to the end of December 2021 do not reveal who received the largest package at the Edinburgh-based firm whose managing director is Jane Henderson.
The other directors are Roy Leckie (investment and client service); Charlie Macquaker (investment); and Jimmy Smith (investment operations).
Walter Scott & Partners, based at 1 Charlotte Square, saw pre-tax profit increase by 7% to £210.49m (2021: 196m) on a 4% rise in turnover to £308.9m (2021: £295.8m).
It had $76.2 billion (£63.2bn) of assets under management as at June 2022 and paid a £158m dividend to its US owner, up from £150m in the previous year.
In his notes to the accounts, chairman Alex Hammond Chambers says the company is looking to opportunities in medicine, artificial intelligence and space.
Walter Scott set up the business in 1983 to manage equity portfolios for institutional clients, including public and private pension funds, endowments, foundations, family offices, insurers and financial organisations.. It was acquired by the Bank of New York Mellon in 2006.
Mr Scott departed a year later and set up Scott Investment Partners. He is involved in other business ventures, including the Edinburgh jeweller Hamilton & Inches.