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June 16, 2006
Hedge Fund Executive Gains Much
Man Group, which holds the distinction of being the world’s largest hedge fund company, has augmented its chief executive’s annual compensation by 57 percent, raising his total annual income to £6 million. Stanley Fink, who holds 4.3 million in shares and performance-linked options of the Group, received a record £3.8 million increase for the year ended March 31. Man Group registered record earnings of $1.01 billion, with its net income rising by 14 percent. IHT reports:
Fink, who took over as chief executive in 2000, transformed Man Group from a commodities trader to a hedge- fund manager. The company was founded by James Man more than 200 years ago as a sugar broker. It now has operations in the United States, France, Singapore and Britain.
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