The British division of Elliott Advisors, one of the leading activist hedge funds in the US, paid its staff in London $170.3m last year despite racking up a pre-tax loss of $6.5m, says James Hurley in The Times. The salaries of just over 100 employees rose by around 20% in 2020; three directors got $22 million, up from $15.4m in 2019. Turnover increased by 17.5% in 2020 from the previous year.
Elliott’s latest accounts recorded a $16.5m fine paid to the French banking regulator for filing inaccurate and late reports related to a takeover battle between two transport businesses. Elliott had been found to have obstructed the regulator’s investigation. The company has appealed.
The highest-paid director of the firm, who has not been named, received $21 million in 2020, excluding pension contributions, up from $11.9 million the previous year.