Elliott Management hedge fund

The spend package in excess of £38m is a sum 1, 437 times higher than the common UK salary of £26, 500. Photo: Graham Turner/The Guardian

Elliott Advisors, the British supply of New York hedge investment Elliott Management, paid £38, 119, 707 a year ago to a senior professional in its UK company, according to records submitted at Companies home.

The firm, arranged by United States billionaire Paul Elliott Singer in 1977, didn't determine which of its London administrators gathered the multimillion-pound pay cheque, though all of the possible candidates tend to be American. The director’s pay had been up 1, 311% in the £2.7m given out the prior 12 months.

Elliott’s UNITED KINGDOM directors are Keith Horn, 56, primary working officer, Jonathan Pollock, 51, chief trading officer, and Singer’s son Gordon, 40. PHA Media, the PR firm which represents Elliott, refused to state which director collected the cash.

The £38m pay cheque calculates at £733, 000 per week – or maybe more than double the amount has actually Wayne Rooney collects from Manchester United. It's thought to be the highest pay made in Britain this year, before £34m paid to rival investment manager Stephen Butt co-founder of Silchester Overseas a year ago.

Elliott has actually drawn controversy for its extremely intense pursuit of debts owed by Argentina along with other struggling economies. At one-point, Elliott won a judge purchase to have a 100 metre Argentine naval vessel seized in Ghana as an element of its make an effort to collect on bonds upon which Buenos Aires defaulted in 2001.

Unlike significantly more than 90% associated with various other Argentina bondholders, Elliott refused to restructure your debt it presented, and argued that the nation cannot legally favour bondholders that has restructured their financial obligation over their team. Singer won the courtroom struggle, leading to the south US country defaulting this summer, making holders of the restructured financial obligation without vast sums in interest repayments.

Argentina’s former foreign minister Héctor Timerman has branded Singer “the inventor of vulture resources”.

The investment has additionally fought lengthy legal battles against Peru and Congo-Brazzaville to collect on old debts at vastly increased values.

Elliott’s UK unit paid just £1.3m in corporate taxation a year ago, less than the average £1.35m compensated to its 53 employees. The company, that is predicated on King Street, alongside St James’s Square, paid £72m in wages, up from £30m a year ago, as the return doubled to £103m.

On the list of staff, relating to his LinkedIn profile, is Benjamin Tansey, an old president of Oxford Union who had been twice-caught wrestling nude on their college’s croquet lawn.