BRUSSELS (Brussels Morning) – Pierre Hermant, the boss of Finance&invest.brussels, will earn EUR 232,000 gross, annually from now on. He will receive a 15 percent rise in his pay.
That is what Le Soir writes. Hermant has been at the head of the regional investment vehicle Finance&invest.brussels, the former GIMB, since 2018 and previously led the Motor Show, among other things. According to the French-language newspaper, his work within the investment company is valued and he can therefore count on a salary increase.
From now on Hermant will earn 232,000 euros gross per year instead of 198,000 euros. “He deserves it. He is the best manager in the country,” one of the directors of Finance&invest.brussels told Le Soir.
‘Reasonable pay rise’
Finance&invest.brussels is not part of the regional administration, but is a public limited company, which means that the investment vehicle operates quite autonomously. The region does own 69 percent of the shares, but the decision to increase the CEO’s salary does not come from the Brussels government, which is partly represented on the board of directors.
“Within the board of directors, the government representatives have not stopped the wage increase. They are also not authorised to do so,” said Brussels State Secretary for Economic Transition Barbara Trachte (Ecolo) through her spokesperson. “The pay increase is reasonable, if we compare with Wallonia, where less money is managed and some CEOs earn a lot more.”
The pay increase should ensure that Hermant stays on board longer. At the Walloon counterpart of Finance&invest.brussels, the CEO earns between 245,000 and 270,000 euros gross. Hermant is said to have recently received an offer from an intermunicipal company from Walloon Brabant.