Mattioli Woods CEO to forego salary amid Covid-19 pandemic

Board members on 50% salary reduction

Mattioli Woods CEO Ian Mattioli has chosen to forego his basic salary until 30 June to help mitigate costs and protect the firm's financial position amid the coronavirus crisis.

In a market update issued on Friday morning (27 March), the self-invested personal pension provider and wealth management firm said it was fully operational still, with more than 600 staff working from home.  In addition to the CEO's salary cut, Mattioli Woods board members have agreed to reduce their basic salary or fees by 50% also until 30 June. The situation will then be reviewed.  The firm is reviewing its operating costs, restricting travel and reducing discretionary spending. It is also likely that no bonuses will be paid to staff in respect of the current financial year, the C...