Wellcome Trust criticised over £11m in payouts to senior investment team Sum includes £5m to chief investment officer and is 10 times the remuneration for health research charity’s governors.
The pay packets, which included £5m for Wellcome’s chief investment officer, Nick Moakes, were awarded after its investment portfolio rose in value, generating more funds for its mission of tackling health inequalities.
The Wellcome Trust, the UK health research charity, has been criticised for paying its investment executives more than £11m last year, more than 10 times as much as its own governors.
The charity’s senior investment team’s total pay packet rose to £11.1m last year, shared between 44 staff, up from £9.5m the year before.
Andrew Speke of the High Pay Centre, the UK thinktank, said there was a “huge gap” in pay between Wellcome’s investment staff and its lowest-paid workers, which was hard to justify.
