IN THE MONEY

MARTIN Gilbert has taken a £1.5m pay cut after an underwhelming year by his firm. The investor, who founded Aberdeen Asset Management in 1983, earned £2.8m in the 12 months to September 30 – 35.3pc less than the year before. The married father-of-three’s base salary rose by £7,000 to £520,000, according to the annual report. However, his bonus fell from £3.8m to £2.3m.

The investment firm has frozen the pay of employees earning above £75,000 as profits fell more than a third to £222m after nervous investors pulled out more than £32bn.