U2 was among the artists saluting Universal Music Group International chairman/CEO Lucian Grainge at the Music Industry Trusts' Award ceremony at London's Grosvenor House Hotel.

Universal-signed pop acts Mika and Take That performed at the ceremony tonight (Nov. 3), along with jazz-pop singer Jamie Cullum and indie-rock band Razorlight, which released its new album "Slipway Fires" (Vertigo/Mercury) today.

Artists among the 1,200 guests included Girls Aloud, Sugababes, The Fratellis, The Feeling, Snow Patrol, members of ABBA, Ray Davies and James Morrison.

Snow Patrol opened the show with "Chasing Cars" (Fiction/Universal) after a few technical hitches, explaining that they were standing in for Duffy who had throat problems.

Razorlight performed "In The Morning" and current single "Wire To Wire," with Johnny Borrell commenting: "Every time I've wanted to take a risk, he's backed us up - he's taken bullets for us."

Amy Winehouse was unable to attend, but her manager Raye Cosbert of Metropolis Music paid tribute to Grainge.

"He is a doyen of the business I'm in," Cosbert told Billboard.biz. "He keeps the business as what we love and what we do and that's what's important. He's a great man."

The star power in attendance was apparent during the charity auction, as Snow Patrol was outbid by Abba's Benny Andersson for a signed "Boy" print by U2. Andersson bid £45,000 ($71,075). But that was topped by the £150,000 ($236,877) that retail magnate Sir Philip Green paid for a guitar designed for and signed by Bono.

The MIT award was presented to the Universal boss by all four members of U2. UMG chairman/CEO Doug Morris was also present.

Bono joked about U2's failure to release a new album this year, commenting that Grainge provides "cuddles" for the band "when we get stressed out and we haven't got the hits and we missed Christmas."

Tributes on film were made by personalities from the industry as well as musicians including Mariah Carey, the Pussycat Dolls, Michael Winner, Elton John, Bob Geldof, U2 manager Paul McGuinness and Girls Aloud.

In his acceptance speech Lucian Grainge said: "This recognition is an honor, and I'm delighted to be able to share it with the many artists, colleagues and friends who have been at the center of my professional and personal life for the past 30 years. I'm proud that music is the only industry I have ever worked in. Music has given me opportunity and fulfillment beyond measure, and I'm grateful for that."

Grainge also talked about his career in A&R at MCA Records in the Eighties, adding that "I was a talent scout then, and I'm a talent scout now."

Previous winners of the award include Sir George Martin, Harvey Goldsmith and the late Ahmet Ertegun, and artists and musicians including Sir Elton John and Bernie Taupin, Kylie Minogue and Peter Gabriel.

Grainge is marking his thirtieth anniversary in the music industry, having worked with artists including Eurythmics, U2, Sir Elton John, Take That, Metallica, Snow Patrol, Amy Winehouse, Mika and Duffy, the biggest U.K. debut artist this year.

Grainge has also been invited by culture secretary Andy Burnham to take part in the "Creative Britain" conference next October, acting as an ambassador for British talent.

Nordoff-Robbins Music Therapy and the BRIT School, the two charities that are supported by the annual Music Industry Trusts' Award, received a record-breaking £568,593 ($897,577) from this year's event. It was sponsored by mobile manufacturer Nokia, London-based media investment firm Ingenious Media and U.K. collecting societies PPL and PRS.