London Stock Exchange owner to double chief executive’s pay

Julia Hoggett, chief executive of the London Stock Exchange, last year warned of the disparity between executive pay in the UK and US, which typically compensates bosses much more generously.

She argued that this “lack of level playing field” has driven an exodus of companies and talent from the Square Mile.

Ms Hoggett said at the time: “The alternative is we continue standing idly by as our biggest exports become skills, talent, tax revenue and the companies that generate it.”

She called for a “constructive discussion” between UK investors and advisors about boardroom pay to stop them leaving for New York.

Lower pay deals for UK executives have been blamed as one of the reasons London’s stock market has struggled to attract new listings.

Only 23 companies floated in the UK last year, down 49pc from the 45 listings recorded during the previous year, according to EY.

An LSEG spokesman said: “The committee periodically reviews executive remuneration arrangements, in line with usual corporate governance practices, to ensure they remain fit for purpose and aligned to our ambitious growth strategy.

“The policy will focus on attracting, securing, retaining and rewarding the best talent in a competitive global market.”