Making a move to the buy-side is often over-romanticized by the thought of joining a hedge fund (and earning hedge fund money), but this isn’t always the case. For one Standard Chartered executive, their destination across the aisle probably pays pretty similarly on average to jobs at the bank they’re departing from.
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Matthew Steele has joined Vanguard Asset Management as EMEA head of information cybersecurity. He spent the last five years at Standard Chartered, and was most recently its chief information security officer for group functions and GBS.
Steele has worked in finance since 1992. After starting out at Natwest Markets he joined Morgan Stanley, where he worked for 15 years and latterly became its EMEA head of information security. He left for a VP role at Thomson Reuters, where he worked for five years before joining Standard Chartered.
Last year was a good year for pay at Standard Chartered in the UK. Bonuses rose, as did (median) average total compensation, which was £162k ($205.9k). At Vanguard, meanwhile, pay has been steadily falling year-on-year, with 2023’s compensation (mean) averaging just £167k.
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