By Marcus Leach
Prudential's group chief executive Tidjane Thiam has been awarded a £4.7 million bonus for 2010.
Prudential’s annual report shows that Thiam's will get an annual bonus for last year of £1.57m, as well as £2.1m from a long-term investment plan run by M&G and £225,00 in cash supplements for pension purposes.
The bonus comes after Thiam led the company’s failed bid for AIA at a cost of £377m.
“After careful consideration, the committee used its discretion to take the cost of the AIA transaction fully into account in determining the results to be used for bonus purposes," Prudential remuneration committee chairman Bridget Macaskill said in the report.
“Bonuses for all executive directors were therefore based on the results after all AIA transaction costs.”