Consultant and staffing costs surpass £510k at Woodford IM as a result of FCA investigation

£4.5m loss for year ended 31 March 2021

James Baxter-Derrington
clock • 1 min read
Neil Woodford

Neil Woodford

Consultant and staffing salaries at Woodford Investment Management topped more than half a million pounds over the year to 31 March 2021, as costs associated with the Financial Conduct Authority's investigation into the collapse of Woodford Equity Income begin to mount.

According to the year end accounts, wages and salaries of £510,250, along with social security costs of £119,204 and other pension costs of £29,000, for a total remuneration of £658,454, was spent over...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on UK

RLAM to launch sustainable growth fund

RLAM to launch sustainable growth fund

Focuses on firms with ‘positive influence’

clock 24 May 2022 • 1 min read
Smouha manages the GAM Star Credit Opportunities fund

GAM's Anthony Smouha named FE Alpha Manager of the Year

One of two wins for Smouha

clock 19 May 2022 • 1 min read
The European High Income fund will close on 19 August

Invesco fund to close following failed merger

European High Income fund

Elliot Gulliver-Needham
clock 17 May 2022 • 1 min read