c of e
Favourite Share

Church of England's head of investments got £515,000 last year

Tue 15 May 2018
By Cara Bentley

Tom Joy, director of investments at the Church Commissioners - who manage the Church of England's £8.3 billion finances - took home over half a million pounds himself last year.

In 2016, Mr Joy took home £416,000, in comparison to the Archbishop of Canterbury's £80,160 stipend. In 2017, this increased to £515,000.

The Church Commissioners aim is to invest the church's money ethically and manage the church's assets. 

Their annual report said: "The highest paid member of staff was the Director of Investments who earned £264,000 and an LTIP (Long-term incentive payment) of £251,000 based on the long-term performance of the fund. Eight other members of staff received LTIPs in the year totalling £735,000 (2016: £846,000)."

The Church Commissioners decide how to invest the church's returns ethically and last year made 112 queries with companies they invest in about their practises.

The Archbishop of Canterbury said they wanted to invest in a "low-carbon economy" and try to encourage change in the world's largest oil and gas suppliers.

The church achieved returns of 7.1 per cent last year, 2 per cent below their target.

Stay up to date with the latest news stories from a Christian perspective. Sign up to our daily newsletter and receive more stories like this straight to your inbox every morning.


comments powered by Disqus
Daily news direct to your inbox
Your News Feed

Stay informed and inform others with up to the minute news from a Christian perspective. 

Daily News email

RSS feeds

News Widgets

You may also like...

Rt Rev Dr Helen-Ann Hartley was welcomed into the Church of England... More

Dr Martin Warner, Bishop of Chichester will become a member of... More

This week’s press has carried suggestions that the UK economy... More

A council in east London is going to be quizzed by an advocate... More