John Duffield's New Star Asset Management is proposing to issue equity bonuses equivalent to 15% of its capital by 2012, to re-incentivise its senior team.

New Star said it had identified 35 executives to whom the award will be made. These individuals include the firm's most senior asset managers, including Guy de Blonay and Richard Pease. John Duffield, chairman, and Howard Covington, chief executive, will not be included in the plan.