Board members at Record Currency Management have taken a 10% pay cut in response to a "continued decline in financial performance", in contrast to their peers at the UK's biggest listed companies.

The company, which is part of the FTSE All-Small index, said it had aligned incentives between staff and shareholders. The bonus pool for its group profit-share scheme, in which executive staff participate, is also 75% smaller than it was three years ago, which compares to an 84% fall in the company's share price in the same period.