Crispin Odey suffers £6m pay cut. Crispin Odey, one of the UK’s most successful hedge fund managers, suffered a pay cut of more than a third this year but still took home £9.4m. Income at Odey Asset Management, the £4.1bn fund he founded, dropped by £5m to £40m in the year to April 2012 largely as a result of a £6m drop in performance fees to £2.5m.
LSE strikes a cut price deal for LCH. Clearnet. The London Stock Exchange has agreed to buy 60pc of British clearing house LCH. Clearnet at a reduced €15-a-share (£12.25) as the two sides edge towards a deal that was put into doubt by regulatory changes in Europe.