Hohn trims yearly pay packet to £215m
HEDGE fund tycoon Sir Christopher Hohn has rounded off the year by paying himself £215m.
Sir Christopher, the activist investor behind last year’s high-profile boardroom battle at the London Stock Exchange (LSE), collected a dividend payment of $274m (£215m) from his hedge fund The Children’s Investment Fund (TCI) for the year to February.
However the bumper payday is significantly smaller than the £270m he pocketed in 2017, when his dividend outweighed TCI’S profits for the year.
According to filings, TCI Fund Management made a pre-tax profit of $354m for the 12 months to February, a 29pc boost. The period covered the dramatic battle between Sir Christopher and the board of the London Stock Exchange after the billionaire investor led a revolt against its chairman following the shock departure of former boss Xavier Rolet. The row escalated to such an extent that Bank of England Governor Mark Carney was forced to wade in.
TCI slashed its stake in the exchange from more than 5pc to 1.8pc earlier this year after failing to force out chairman Donald Brydon. The move ended a long run as one of the LSE’S key backers.
Sir Christopher, the son of a Jamaican car mechanic, set up TCI in 2003 and has donated hundreds of millions in profits to charity.