King Sturge partner Phil Marsden, regarded as one of the UK’s top investment advisers, earned £2.2m in the year to 30 April 2006, which makes him one of the best-paid agents in the UK.
In its first annual report since converting to a limited liability partnership King Sturge revealed this week that its top-earning partner earned £2.2m in 2006 without identifying Marsden, who specialises in investment deals, corporate finance and fund structuring.
The firm’s 57 UK partners shared a distributable profit of £30.4m, giving an average payout of £533,000. The range of payouts was wide – from £2.2m to £205,000. The highest-paid salaried member of staff earned more than £400,000.
Turnover in 2006 was a record £161.4m and is forecast by joint senior partners Richard Batten and Chris Ireland to be £185m in the year to 30 April 2007.
‘It is not just about stellar investment performance. All parts of the business have contributed to the year’s success,’ said Batten of the 2006 results. The residential business, which was only created at the end of 2003, is heading towards turnover of £17m in 2007.
King Sturge’s big growth area is continental Europe.