The chairman of resurgent high street giant Marks and Spencer, Luc Vandevelde, was given the largest pay rise among London blue-chip firms last year, a new survey revealed on Friday.

According to the study by Income Data Services, Mr Vandevelde was given a bonus of £1.35 million and shares worth £350,000 in a move which saw him more than double his package.

Mr Vandevelde took over at M&S in 2000 and has since turned around its fortunes by cutting prices, hiring top designers, axing loss-making overseas operations and sourcing from cheaper foreign firms.

The poll looked at the total percentage rise in salary and bonuses for London's top 350 listed firms but excluded the value of share options.