Ian Mattioli, the chief executive of wealth manager Mattioli Woods, has said he will cut his base salary to zero as his firm works through the implications of the coronavirus pandemic.
Mattioli Woods’ other board directors had also all agreed to take a 50 percent pay cut until at least the end of June, when the firm would re-assess the situation.
Mr Woods’ base salary for the year ending 31 May 2018 was £540,000.
His total compensation for the year was £1.68 million including bonus and other incentives, but he said this morning that it was likely “all staff” would forego bonuses in the financial year...