Martin Wheatley awarded £650k pay package

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Financial Conduct Authority chief executive Martin Wheatley

Financial Conduct Authority chief executive Martin Wheatley received a total pay package of over £650,000 in 2012/13, including an annual bonus of £86,000.

Sky News revealed the figures last night ahead of the publication of the regulator’s annual report, expected later today.

According to Sky News, Wheatley was paid a base salary of approximately £430,000 in the year to the end of March plus pension contributions and benefits of around £150,000.

Wheatley joined the regulator in September 2011 as managing director of the FSA’s conduct business unit.

Between September 2011 and March 2012 he was awarded a total pay package of just under £400,000, including a base salary of £250,833 and a performance related bonus of £50,000.

Last year former FSA chief executive Sir Hector Sants was the highest paid FSA director with a total pay package of £835,731. Sants donated his £143,750 performance related bonus to charity. He joined Barclays in February as head of compliance and Government and regulatory relations.

The FCA declined to comment.