A director at IFM Investors’ infrastructure-focused London arm netted a AUD 12.75m (EUR 7.88m) bonus last year, recently-posted accounts from the Australian manager show.
IFM did not name the director but its accounts show that only two IFM employees receive salaries from the subsidiary: IFM’s head of infrastructure for Europe, Christian Seymour, and its general counsel for Europe and the US, Mandeep Mundae.
The bonus — for the year ended 30 June 2019 — was “receivable under long-term incentive schemes”, according to the accounts for IFM’s UK subsidiary, IFM Investors (UK) Ltd.
IFM’s activities in the UK and Europe are focused on infrastructure, in which it has equity and debt investments.
IFM declined to comment. Seymour and Mundae did not respond to requests for comment.
Seymour has been with IFM since 2004 while Mundae joined in 2010. Both are based in London.
The accounts also show that the bonus dwarfed the director’s pre-bonus salary of AUD 2.9m for the year.
It is also an outlier compared with previous years.