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Wellcome Trust criticised as investment team members are paid £11m
The Guardian
|January 15, 2025
The Wellcome Trust, the UK health research charity, has been criticised for paying its investment executives £11m last year, more than 10 times as much as its own governors.
The pay packets, which included £5m for chief investment officer Nick Moakes, were awarded after its investment portfolio rose in value.
Wellcome's investment portfolio returned 5.2% in the year to 30 September, or 3.5% after inflation, and is now valued at £37.6bn, up from £36.8bn the year before.
Moakes, who is stepping down in March, is among the highest-paid charity workers in the UK. Much of his pay depends on the portfolio's future performance.
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