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Matthews received £2.5m 'golden hello' for joining Aviva
by Alex Steger on Mar 22, 2012 at 08:01
Former Standard Life and Friends Life boss Trevor Matthews received a £2.5 million ‘golden hello’ when he joined insurer Aviva as UK chief executive in November last year.
Aviva’s annual report revealed that Matthews received just over £2 million in shares as well as £470,000 in cash when he joined the life company in 2011.
Matthews (pictured) had been set to take a step back, standing down from his role as chief executive of Friends Life, and had publically announced plans to return to his homeland of Australia.
In June 2011 he was announced as a replacement for Aviva’s UK chief executive Mark Hodges, who joined Towergate, but could not take up the role for six months.
Matthews received £58,154 for his first month’s work at Aviva, alongside a £45,000 bonus.
His annual salary is £720,000.
Aviva chief executive Andrew Moss also received a bonus of £1.1 million and his base salary increased to just over £1 million, after Aviva beat its operating profits target last year.
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9 comments so far. Why not have your say?
Tony Clarkin
Mar 22, 2012 at 08:59
Good on ya mate!
report thisColin H
Mar 22, 2012 at 09:00
caption competition!
What do you mean just £2.5m - i can't afford to live on that!!
report thisSteve
Mar 22, 2012 at 09:03
A Budget Day winner for sure
report thisMan of Kent
Mar 22, 2012 at 09:31
Opportunity for a positively spun headline here - "Aviva increases bonuses"
report thisStewart Tomlinson
Mar 22, 2012 at 09:37
It reminds me of the 1980's when the chief executive of some marginal life office would resign to spend more time with his family only to re-emerge a month later as chief executive of yet another life office.
report thisJames Clancy
Mar 22, 2012 at 10:13
@man of kent
But not for the policy ho;ders
report thisTony Clarkin
Mar 22, 2012 at 10:53
"G'day Trev, it's your headhunter here, mate
Can you call me back about a bonser new vacancy we've just got on our books? It looks like a niice little earner for ya mate and it'll look great on ya CV.
It's a classic pommie deal; flash offices draped with art, loads of wonga, no need to deliver any material results and no come backs for failure.
You''ll be heading up the new UK regulator mate "
report thisMac Kot
Mar 22, 2012 at 11:28
It would be interesting to know how this was shared with HMRC. (or not at all?)
report thiscomplacency rules
Mar 22, 2012 at 12:15
If he is so higlly regarded to warrent such signing on bonuses, I have to wonder why he has not lasted anywhere for very long.
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