FTfm research revealing multimillion-dollar salaries at some of the world’s largest pension funds has prompted condemnation over the vast gulf in earnings between chief executives and scheme members.
Analysis of 14 schemes showed Jim Leech, former chief executive of the Ontario Teachers’ Pension Plan, was paid $7.4m in 2013, while his eventual successor, Ron Mock, received $2.5m in his role as vice-president of fixed income and alternatives. The $175bn Canada Pension Plan Investment Board paid its chief executive, Mark Wiseman, $3.1m.
The Canadian pension salaries outstrip the total earnings of many chief executives in the private fund sector, including Man Group’s Emmanuel Roman, who was paid $3.4m for 2013, and Jupiter’s Edward Bonham Carter, who received $3m.
