Savills chief executive Jeremy Helsby’s remuneration has risen 7.5% to £1.3m as the agent’s bonus pool shrank by 9% in 2011.
In 2010, the agent paid out £122.3m in profit share and commissions, but this shrank to £111.1m in 2011, according to the firm’s 2011 annual report.
The firm’s total salary bill rose by 12% to £288m, as headcount rose from 21,588 to 23,555 employees worldwide. UK staff numbers increased by 3.5% to 3,334, with the UK salary bill rising by 5.6%.
Like other members of Savills’ pension plan, who no longer accrued final salary pension benefits following the scheme’s closure in March 2010, Helsby saw an increase in his base salary in 2011.
His rose 7.1% to £225,000. Helsby’s cash profit share for the year to 31 December 2011 was £823,360, with £168,640 deferred.
The remuneration of Simon Shaw, group chief financial officer, fell by 8% to £891,390.
The group delivered a 9% increase in pretax profit to £40m for the full year to 31 December 2011, on the back of a 7% rise in revenue to £721.5m.
damian.wild@estatesgazette.com
