Man at the Pru pockets £17m

AN UNNAMED employee at Prudential pocketed £16.6m last year – more than double what boss Mike Wells took home.

The staff member was Pru’s highest-paid person in 2018, with North American division boss Barry Stowe next at £8.9m. Wells was handed £7.4m, according to the company’s annual report.

Pru has refused to reveal the identity of the employee but it is widely believed to be Richard Woolnough, a star fund manager at asset management division M&G Prudential.

Woolnough’s pay previously sparked outrage when it emerged that Pru had paid him £33m over 2013 and 2014. The biggest fund he runs is M&G Optimal Income – which is worth £19.4bn. However, it has had a torrid year, dropping 3.3pc in 2018.