T. Rowe Price, the US investment firm with about $330bn (€252bn) of institutional assets under management, awarded its retired chief executive $5.1m in salary and bonus last year.

George Roche, who retired last December, was awarded $350,000 salary, a cash bonus of $4.3m and what the company terms as "other compensation" worth $453,000, according to a filing with the US Securities and Exchange Commission.