BlueBay founders set to share £160m payday

BlueBay chief executive Hugh Willis and CIO Mark Poole will each receive £81.9m for their 8.5% stakes in the company, which is set to be acquired by RBC.

Willis and Poole set up BlueBay in 2001, which has grown into one of Europe's largest independent fixed income managers. In total, Bluebay's directors will receive £197m holding in the company, the Telegraph reports. BlueBay shares soared almost 30% yesterday after RBC announced a 485p per share offer for the company, which was at a 29.1% premium to Friday's closing price. In February, Willis and Poole comes sold a total of 13m shares in BlueBay for £42.3m. As part of the RBC acquisition, the pair will have to put a quarter of the money they receive back into funds managed by BlueB...