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SJP still paying ex-chief Bellamy £230k a year

SJP still paying ex-chief Bellamy £230k a year

Former St James's Place (SJP) chief executive David Bellamy will still be paid £230,000 a year, after stepping down from the role at the start of 2018. 

Bellamy (pictured) is being retained by the restricted advice group as an adviser to its international business and executive team.

According to SJP's annual report he will be paid a salary of £230,000 for his services, a significant reduction from his pay package as chief executive which saw him receive a total of £2.5 million in 2017.

This consisted of a salary of £518,000, a £754,000 bonus, extra benefits of £51,000, long term incentive shares worth £1.1 million and pension contributions of £103,500. 

Bellamy's successor Andrew Croft will receive a slightly higher basic salary of £520,000 this year. The remuneration committee said in the annual report this 3% rise was in line with the basic salaries of the companies' workforce. 'After this increase, the base salaries
remain below market median for a company of our size both in
financial services and general industry,' the report said. 

Croft received a total package of £1.8 million as chief financial officer in 2017. Ian Gascoigne and David Lamb also received pay packages worth £1.8 million last year. 

SJP posted new business profits of £779.8 million in 2017, with assets growing to £90.7 billion. 

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