Macquarie’s Moore tops CEO paylist

Macquarie Group’s chief executive looks to have become the highest paid boss of a listed company.

Nicholas Moore’s total remuneration rose to $18.2 million in the year to March.

Macquarie Group chief executive Nicholas Moore looks to have become the highest paid boss of a listed company as the financial services giant’s profit soared to a record $2.06 billion.

Mr Moore’s total remuneration rose to $18.2 million in the year to March, from $16.5 million in the previous financial year, due to increases in both his cash and share-based payments.

The 57-year-old was ranked second for CEO pay in 2015, behind the outgoing boss of packaging firm Amcor.

Macquarie’s 29 per cent rise in profit in the year to March 31 was driven by a nine per cent increase in its net operating income, as five of its six businesses delivered improvements.

Its profit comfortably exceeded Macquarie’s previous record of $1.8 billion in 2008, and broadly met analyst expectations following company forecasts.

“Swings and roundabouts but generally in line,” UBS banking analyst Jonathan Mott said.

“Compared to other investment banks, this is a solid result.” Macquarie has forecast a similar profit in the year ahead.

Chief financial officer Patrick Upfold said Macquarie had benefitted from improved trading opportunities in volatile markets, with international income accounting for 68 per cent of total income.

Macquarie shares initially rose on the result, but fell back against a backdrop of a weaker share market, particularly in the financial services sector.

At 1520 AEST, its shares were down 20 cents at $65.10.

AAP