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Thiam, who is leaving the dual-listed British
insurer to join Credit Suisse in May, was awarded 8.25 million
pounds as part of the company's three-year LTIP and earned a
2.12 million pounds bonus for his performance last year,
Prudential's annual report showed.
Mike Wells, head of Prudential's U.S. business - and the
executive most widely tipped to succeed Thiam - was the
company's second highest paid board member, earning total
compensation of 11.39 million pounds.
All executive directors received a 2015 salary increase of 3
percent in line with those awarded to other group employees.
The company said it would also increase the fee paid to Chairman
Paul Manduca by 16.6 percent to 700,000 pounds from July, in
recognition of the "increased demands" of his role.
Like several other financial institutions and asset management
firms, Prudential has announced plans to apply 'clawback'
provisions to executive bonuses from 2015.
Prudential also said future executive bonus awards would reflect
achievement of internally set "economic capital targets", as
Europe's insurance sector prepares for the implementation of new
EU capital adequacy rules known as Solvency II.
Prudential's Group IFRS operating profit rose by 14 percent to
3.19 billion pounds in 2014.
($1 = 0.6763 pounds)
(Reporting By Sinead Cruise, editing by David Evans)
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