Prudential chief Thiam awarded £11.8m pay ahead of exit

Thiam (pictured), who will depart Prudential to join Swiss bank Credit Suisse in June, received a 36% pay rise last year, the Telegraph reported. His earnings were made up of a base salary of £1.06m, an annual bonus of £2.12m, £8.25m in vested share awards and £265,000 in pension payments. Prudential posted a 14% rise in operating profits to £3.2bn for last year, surpassing internal targets. Its UK life arm operating profits grew by 7%, despite suffering a sharp fall in its individual annuity business following the announcement of the government's pension reforms. Thiam is due m...