Savills’ executives saw their compensation rise by more than 2% as they steered the company to a record year.
Chief executive Jeremy Helsby was awarded just under £2.4m for 2015, up by 2.7% on his 2014 pay, while chief financial officer Simon Shaw took home more than £1.7m.
Some of the rise in compensation came from the salary rise approved by the compensation board at the start of 2015.
Helsby’s salary increased from £225,000 to £266,667 for 2015, a 15% rise, while Shaw’s was up by 14% to £204,000.
This year the compensation board is not pushing for such a large increase, with Helsby due to receive a rise to £275,000 and Shaw a rise to £210,000, well below the FTSE 250 average for executive directors.
Performance incentives in the form of shares and cash hit the upper cap for both as Savills met and exceeded its 2015 targets.
The 21% increase in underlying profits at Savills pushed the profit share element to the maximum of £2m for Helsby and to £1.5m for Shaw. Of this, 33% of the chief executive’s share was deferred for three years. He donated £50,000 of his compensation to charity.
Shaw had 30% of his shares deferred over three years and gave £35,000 to charity.
Pension contributions made up the balance of the salary package of the two executives.
