The figure, which includes a £92,000 performance fee, “a non-pensionable supplement in lieu of pension contributions” of £41,000 and the provision of a car and driver, makes Wheatley is the highest paid director at the FCA.
His bumper pay packet dwarfs that of chairman John Griffith-Jones who received £192,000.
Director of supervision Tracey McDermott is the next best paid FCA executive, taking home pay and benefits of £475,000 in the year to March, including a performance fee £20,000 higher than the previous year at £65,000.
The figures are likely to anger mortgage brokers who have seen the FCA raise the minimum fee payable to 8.4%.
Clive Adamson, who was director of supervision prior to McDermott, resigned from the FCA’s board in January 2015 but continued to be employed until 31st May 2015 in line with his contractual entitlement.
He walked away with £438,000 last year, a 20% rise compared to the previous year, which included £54,000 for the five months he didn’t work in 2015.
Lesley Titcomb, former chief operating officer at the FCA who left in January to take over as chief executive of the Pensions Regulator from March, earned £338,000 last year.
Wheatley, in his statement accompanying the FCA’s annual report that reveal the pay figures, said: “We will continue to invest in our staff, as having the best people with the right skills is crucial to us meeting our objectives.”
