(Bloomberg) -- Elliott Investment Management’s highest-paid executive in the UK received almost £29 million ($38 million) last year.
The compensation to the unnamed director was revealed in the latest accounts for Elliott Advisors (UK) Ltd., filed this week with Companies House. The sum, which excluded pension contribution, was more than 200% higher than the equivalent compensation of about £8.9 million made in 2022.
Elliott lists six directors as having served at its UK entity in 2023. These included London-based Nabeel Bhanji, who’s been helping build up Elliott’s presence in Europe and Japan. Other directors of Elliott’s UK entity include global commodities head Thomas Houlbrook and global real estate head James Stott.
In total, directors at the UK affiliate received compensation roughly £50 million, up from around £10.4 million the year prior. A representative for Elliott declined to comment.
Elliott is one of Europe’s busiest activist investors and has waged high-profile campaigns at a number of UK FTSE 100 companies, including drugmaker GSK Plc, power generator SSE Plc and homebuilder Taylor Wimpey Plc.
The average number of employees at Elliott’s UK arm rose to 129 last year, up from 124 in 2022. Earlier this year, Elliott named three new partners, including Bhanji, in a rare expansion of the top ranks. It has also made several recent hires in the country including Tim Denari from Centerbridge Partners and Aaron Tai, who focuses on the firm’s activism practice in Japan.
(Adds Elliott’s recent hires in last paragraph.)
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