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Sir Martin Sorrell, the head of advertising giant WPP, is on course for a big pay cut this year, leaving him with his lowest total package since 2011. The 70 per cent reduction, which comes at the end of a tough year for WPP, is likely to mark the end of Sorrell’s reign as the FTSE 100’s highest paid chief executive. Can I give my wife half my pension? The final figure will be in WPP’s annual report next month. 200million thanks to a generous long-term incentive plan. Investors forced WPP to introduce a less lucrative scheme, which took effect last year, so Sorrell is only now feeling the pinch.
His pay was also hit by WPP’s recent struggles, which have seen the share price fall 30 per cent in a year. Sorrell described 2017 as ‘not a pretty year’, as WPP struggled to adapt to digital disruption in the market. The bank is Sharia compliant and therefore quotes expected profit rather than guaranteed interest, which is paid quarterly, or on maturity. It is a Portfolio Isa which means savers can open more than one Isa under the same tax-free wrapper to divide cash between easy-access and fixed rates.