UK: No unkind pay cuts for Black Jack Dellal.

UK: No unkind pay cuts for Black Jack Dellal. - Times may be tough but not for "Black" Jack Dellal the City financier, who managed what must be the biggest annual pay rise ever seen in Britain. In the 1990 accounts of his Allied Commercial property group

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Last Updated: 31 Aug 2010

Times may be tough but not for "Black" Jack Dellal the City financier, who managed what must be the biggest annual pay rise ever seen in Britain. In the 1990 accounts of his Allied Commercial property group reveal that Dellal enjoyed a 3,545% pay rise, taking his salary from a modest £170,000 to some £6.2 million. Dellal, of course could argue that a 650% increase in profits was justification for the rise. But while Dellal is enjoying the fruits of his success, the Charter Group's Simon Miller is feeling the pain of recession where it hurts: in his wallet. Charter, one of the major developers in Docklands has not escaped the property downturn and its profits have tumbled. So too has Miller's pay packet in what must rank as the biggest pay cut in Britain. In 1989, he received some £1,999,250 in salary. A year later, he was £1,319,250 worse off, though still paid a handsome £680,000 a year.

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