Key facts
- Elliott Management paid its 124 UK staff a combined £160 million in 2022.
- The average payout per UK employee was £1.3 million in 2022.
- Elliott's UK turnover rose 16% to £225 million.
- Pre-tax profits for the UK operation increased 10% to £10 million.
- The firm increased its headcount from 106 to 124 employees last year.
Elliott Management, the world's largest activist hedge fund, paid its UK staff an average of £1.3 million each in 2022, with total payouts reaching £160 million. This significant compensation comes as the firm's UK operation, Elliott Advisors UK, reported a 16% increase in turnover to £225 million and a 10% rise in pre-tax profits to £10 million. The firm's headcount in the UK grew from 106 to 124 employees during the year. The pay pot for UK staff was higher than the £137 million shared the previous year. Elliott Management, led by billionaire Paul Singer, is known for its aggressive corporate and political activism, including its pursuit of debts from the Argentinian government and its recent involvement in discussions to buy Manchester United and taking a stake in Salesforce. The hedge fund also initiated a lawsuit against the London Metal Exchange (LME) over its decision to cancel nickel trades following a price surge linked to the invasion of Ukraine, alleging a violation of its human rights. The LME has stated it intends to contest the claim vigorously. Filings at Companies House indicate that the average payout per UK staff member remained steady at £1.3 million in 2022. The three top directors at Elliott's UK arm shared a combined £10.4 million, a decrease from £12.8 million in 2021, with one director earning approximately £8.9 million, down from a £11.5 million top payout in 2021.