THE highest paid director of Martin Currie Limited, assumed to be chief executive Willie Watt, enjoyed an 8% hike in pay last year when the fund-manager returned to profitability.

The accounts for the Edinburgh-based firm show the highest paid director earned emoluments of £460,000 in 2013, up from £425,000 in the preceding year. The investment house made a £4.8 million operating profit in 2013 after losing £9.3 million loss in 2012, when it was battling the fall-out from the sale of its China private equity business and £8.8 million of regulatory fines in the UK and US.

Announcing the results earlier this month, Mr Watt said 2012 had been a one-off bad year but the business performed well in 2013.

Loading article content

Martin Currie attracted net new inflows of over £450m funds to manage in 2013, and made a good start to 2014.