+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

This elite bank paid its top partner a massive £8 million bonus

Dec 20, 2015, 16:30 IST

A worker adjusts glasses in an attempt to break the world record for the &quotLargest Champagne Fountain" in the shopping center Wijnegem near Antwerp, January 25, 2008.REUTERS/Francois Lenoir

Centerview Partners, a hugely successful boutique firm advising on big corporate takeovers, handed its top UK partner an £8 million ($12 million) profit share in 2015.

Advertisement

The seven partners of the UK arm of Centerview, which was founded in the US in 2006, each received an average profit share of £2.7 million ($4 million), according to accounts filed on Tuesday to March 2015.

This was up from an average share of £1.6 million ($2.4 million) in the year before. Partners, or members of the firm, invest in the business and so get a payout on top of their basic salary based on how much profit the firm makes.

The firm, which counts Pfizer and Kraft as clients, paid £5.6 million ($8.4 million) in wages and social security to its 23 employees. While the accounts don't show the exact breakdown, that works out at a huge £243,000 ($364,000) average salary.

In 2014, Centerview split £3.7 million ($5.5 million) between 17 employees, for an average of £217,000 ($325,800).

Advertisement

Here's an excerpt of the accounts:

Centerview/Companies House

The firm is incredibly profitable, and Centerview divides much of that profit up among its members. Almost everything that's not an administrative expense is paid out to the staff and partners of the firm.

Robin Budenberg, a partner at Centerview, declined to immediately comment.

Here's the P&L:

Advertisement

Centerview/Companies House

NOW WATCH: A self-made billionaire in Texas just gave each of his 1,381 employees a $100,000 bonus

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article