Pru boss set for £7m payout despite FSA censure

Tidjane Thiam, chief executive of Prudential, is in line for a £7m share jackpot despite receiving a personal rebuke last week from City regulators.

The Financial Services Authority censured Thiam (pictured) and fined the insurer £30m over its controversial failed bid for Asian operator AIA in 2010. The punishments were meted out because Thiam failed to inform the watchdog in good time about the potential £24bn takeover. Thiam is due for the £7m payout - initially awarded in 2010, the year of the ill-fated deal - under a deferred bonus and a long-term incentive scheme that both come to fruition this year, according to the Daily Mail. According to the 2011 annual report, he will receive a £1m salary for 2012, plus a short-term b...