Paulson trio share £12m payday despite profit falls

Three directors at Paulson Europe, the London-based arm of one of the world's best known hedge funds, have scooped a near £12m payday.

The business, controlled by US hedge fund star John Paulson, made a profit of £26.5m in the year to the end of March 2011, the Telegraph reports. The fund’s highest paid director – likely to be Paulson Ltd, the parent group – received nearly £15m. The payouts come as profits at Paulson Europe fell, down from £32m in 2011, while revenues were down 5.4% to £36.9m. Despite that performance, staff costs at the hedge fund rose sharply, up from £5.6m in 2010 to £8.4m. The fund’s 11 staff received average compensation of £760,000, according to the Telegraph. Profits last year are thoug...