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Directors of Aberdeen Asset Management, the UK money manager, have received £3.4m (€5m) between them in bonuses following the successful integration of Deutsche Asset Management's former UK business, which Aberdeen bought last year.

Mergers in fund management have not traditionally gone well, but Aberdeen has retained 95% of Deutsche's London and Philadelphia-based fixed income business, and over 50% of the equity and balanced-mandate business, above analysts' expectations.

As a result, chief executive Martin Gilbert took home nearly £4m this year, well up from the £1.1m he received in 2005. That included a £2.6m bonus for meeting business objectives, including the management of the DeAM acquisition.

Andrew Laing, chief operating officer, and Bill Rattray, finance director, each received a £400,000 bonus. That took Laing's total pay to £701,000 and Rattray's to £635,000.

Charles Irby, Aberdeen chairman, said the integration was "well advanced" and all that remained was to complete the movement of Deutsche's back-office functions to Aberdeen's third-party administrator, which would happen by March 31.

In the past year Aberdeen has transferred the management of its US equity portfolios to the Philadelphia office, opened offices in Tokyo and Luxembourg, and won liability driven investment mandates in the UK, Europe and the US.

It is also expanding its property management business in Europe, and this week secured a €250m mandate at AP3, the third Swedish pensions buffer fund.