Boe Pahari was penalised a total £1.2 million ($2.2 million) after AMP settled a sexual harassment claim brought by a female subordinate employee at AMP Capital, an amount that included legal costs and the settlement paid to the woman involved.

The penalty, understood to be a mix of forgone incentive payments along with upfront costs, was confirmed by two senior sources and is more than four times the commonly reported figure of $500,000.