Standard Life account physical education instructor gets 56% compensate rise

Miles Costello & ,}

Keith Skeoch, the head of Standard Lifes comment government arm, who has won regard for receiving UK promissory note chiefs to charge over pay, has emerged as the highest-paid senior physical education instructor in the insurer, pciking up 2.1 million in income and reward last year, a climb of 56.5 per cent.

Mr Skeoch picked up a 1.65 million money reward on tip of his 350,000-a-year simple salary, according to Standard Lifes annual report, published yesterday.

It equates to that Mr Skeoch raked in some-more than Sir Sandy Crombie, the insurers maestro arch executive, who was paid 1.764 million for his last year in the job.

Standard Life Investments is one of the UKs majority successful institutional investors. It owns about 3 per cent of each listed association and has been an active supporter for a clampdown on extreme boardroom pay.

Related LinksTheres no place similar to home for Standard LifeAmazon indication key to grant sales, says Standard chief

The comment physical education instructor is one of the twenty-three investors to have responded to a direct by Lord Myners, the City Minister, to yield sum on how they have hold promissory note bosses to comment on arrangement during the stream stating season.

In Standard Lifes letter, that the Treasury published at the commencement of this week, Mr Skeoch told Lord Myners that the comment physical education instructor had tackled, alone and with alternative investors, each vital UK bank, together with Royal Bank of Scotland and Lloyds Banking Group during the past dual years.

He remarkable that banks had done a transparent move afar from charity government team money incentives and towards some-more shares-based awards.

Stephen Hester, the RBS arch executive, and Eric Daniels, the Lloyds arch executive, both waived their annual bonuses this year in the thick of a open recoil over pay.

The payday for Mr Skeoch, who has been arch senior physical education instructor of Standard Life Investments given 2004, came after the physical education instructor increased resources underneath government by twelve per cent to 138.7 billion last year. However, the underlying increase forsaken by roughly a fifth, from 93 million to 75 million last year.

As a group, Standard Life posted handling increase of 919 million, a 1.5 per cent dump from the prior year, but improved than analysts had expected.