Hohn trims yearly pay packet to £215m

The Sunday Telegraph - Money & Business - - Front page - By Lucy Bur­ton

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.