US-based activist hedge fund firm Elliot Management's 124 UK staff shared a £160 million pay pot last year after the company's UK operation Elliot Advisors UK saw profits increase by 10%, according to a report by The Guardian.

Their combined pay, which equates to an average of £1.3m per head, tops the £137m shared by employees in the previous year.

The three top directors at Elliott, which is led by Paul Singer and is one of the world's largest activist hedge funds, shared a smaller pay pot last year than they did in 2021, with their combined compensation totalling £10.4m, down from £12.8m in the previous year.