Crispin Odey, a leading hedge fund manager known as one half of the "Posh and Becks" of the City, has paid himself £28m after his fund made £55m by betting against Britain's biggest banks, according to The Telegraph .
Mr Odey, who is married to one of the City's few top female fund managers - Nichola Pease of JO Hambro Capital - helped Odey Asset Management to more than treble its profits from £16.1m to £55.3m in the year to April.
Mr Odey is not the hedge fund's only trader set for a whopping payout. The rest of the £27m in profits, which come from performance fees charged to clients during 2007, will be divided between just 11 other partners at the firm.
JIMMY CAYNE, THE former chairman of Bear Stearns, has broken his silence on the events that led to the collapse of the 85-year-old Wall Street firm, revealing that he was bewildered by the credit crisis and became seriously ill as the company's problems mounted, The Independent reports.
The septuagenarian broker, who ran Bear Stearns from 1993, was given a 50% chance of survival after being rushed to hospital with a prostate infection last September.
The incident kept him away from the office for a fortnight and led to him losing 30 pounds.IFAonline
What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch