Brewin Dolphin executive chairman Jamie Matheson saw his total pay package fall 13 per cent last year, despite profits surging by more than a third thanks to benign markets and firm customer demand.
The firm’s annual report shows Matheson received a total of £562,000 for the year to 30 September 2012, down from £647,000 the previous year, though his basic salary jumped more than 50 per cent to £311,000.
However, his total remuneration fell as profit share paid in cash dropped to £178,000, from £277,000 last time. That was despite profits soaring 37 per cent to £29.9 million, with an 8 per cent rise in assets under management to £25.9bn.
Writing in the investment manager’s annual report, Matheson said stock markets had remained “remarkably resilient” despite the economic weakness.