City adviser Numis’ co-chief executives share £2.5m bonus – but one takes home more

The co-chief executives of Numis shared a £2.5m bonus last year – but one took home £500,000 more than the other.

Alex Ham and Ross Mitchinson took over from Numis founder Oliver Hemsley in 2016. The pair earn a base salary of £350,000 each, but in the year to September, Ham pocketed a £1.5m bonus, and Mitchinson received £1m.

Read more: Broker and adviser Numis sees share price dip despite strong profits

Ham runs Numis’ advisory and corporate broking arm, which is a bigger revenue-raiser for the firm, hence the difference in pay.

Mitchinson runs the City adviser’s equities business. Revenues in the division rose 16 per cent in the year to £45m. Meanwhile, the advisory arm brought in £85m in revenues.

Both, however, have trumped the £750,000 bonus awarded to Hemsley in the prior year.

Profits at the Aim-listed group jumped by 18 per cent to £38.3m. The firm completed 101 transactions over the year, including equity fund raises worth £2.5bn.