FCA chief executive Andrew Bailey’s pay and perks have surged to £589,000, the regulator’s annual report has revealed.

Mr Bailey’s basic salary has grown by a third from £330,000 to £440,000 in a year and with add-ons such as a £75,000 bonus, up £10,000 on last year, and increased pension payments from £30,000 in 2017 to £40,000 this year, Mr Bailey’s total remuneration package is nudging £600,000.

Fellow executive director Christopher Woolard did not see any increase in his package, which remained at a total of £419,000 and outgoing chair, John Griffith-Jones, received a total remuneration of £193,000.

Elsewhere the figures revealed that the FCA generated a surplus of £86.1m and 91% of staff received a bonus.

The majority of staff received bonuses of 10 to 14.9% to their salaries.

Mr Bailey said the regulator was delivering on priorities outlined in its business plan and hailed the impact of the FCA and its value to the public.

He wrote in the report: “I hope it is apparent that we have started to measure our impact and the public value we deliver in more meaningful ways.

“We will continue to make changes to the way we do this as we develop new ways of evaluating our actions and interventions.”

He said Brexit continued to occupy much of the regulator’s attention saying the “resource we have devoted to this work is, and will continue to be, considerable.”

He added: “As well as providing ongoing technical assistance to the Government, we have worked with firms to understand their future operation plans and their impact, worked on the design of the proposed temporary permissions regime for EEA firms currently operating in the UK and continued our close cooperation with the European Supervisory Authorities.”

On regulatory change, Mr Bailey said: “While planning for a future outside the EU, UK firms and their regulators must still continue to implement and embed all EU legislation affecting financial firms and markets.

“This year we have applied legislation which will have profound implications for firms’ transparency, the way they treat consumers and, in some cases, even their business models.

“MiFID II, which applied from 3 January 2018, presented firms with a challenging deadline, which the vast majority rose to.

“It addresses key drivers of harm from lack of transparency to operational resilience and we will support firms to ensure it is fully embedded across the industry over the next year.”

He added: “This year has also seen us implement or extend important domestic legislation and rule changes that will raise standards of conduct, transparency and security in the UK markets.”

Mr Bailey also aimed a warning at firms that “if they do not treat customers fairly, then we will take action.”

The FCA has appointed a new chair, Charles Randell, who wrote in the report: “I am honoured and delighted to have been appointed Chair of the FCA at a time in its history which is both challenging and full of possibilities.

“I would like to pay tribute to the work of my predecessor, John Griffith-Jones, who chaired the FCA in its first five years.

“I look forward to the next chapter in the FCA’s development.”