Eq Life defends £1m pay day - Financial Services Recruitment - Emu Consulting

Equitable Life has defended its decision to hand its chief executive a pay package worth more than £1m as it prepares to sell off its business.

Charle Thomson, who has been chief executive of the company since March 2001, recieved £1,004,287 this year in a multifaceted pay package comprising salary, bonus, benefits and long term retention scheme.

The equitable boss recieved a salary of £453,973, a performance-related bonus of £199,305, benefits of £111,842 and a long term retention scheme portion of £239,167.

Alistair Dunbar, spokesman for Equitable Life, said that pay had been in line with the industry average.