Pru To Impose Pay Cap After M&G Jackpot Deal

One of Britain's biggest insurance companies is drawing up secret plans to cap the pay of its star fund managers after awarding one employee more than £32m over a two-year period. Sky News has learnt that Prudential is to impose a ceiling on the amount that employees can earn at M&G Investments, the giant asset management group it owns. The Pru has decided to take the step after handing massive bonuses to Richard Woolnough, a bond fund manager, for 2013 and 2014.