Number of NAMA and NTMA employees earning over €100,000 rose to 261 last year

Number of NAMA and NTMA employees earning over €100,000 rose to 261 last year

The number of high-fliers earning over €100,000 in remuneration at the National Asset Management Agency (NAMA) and the National Treasury Management Agency (NTMA) jumped by 15 to 261 in 2018.

New figures provided by the Minister for Finance, Paschal Donohoe show that at the end of last year, there were 98 employees at NAMA on remuneration over €100,000 with 163 in that earning bracket at the NTMA.

The numbers earning over €100,000 at NAMA remained static at 98 compared to 2017 against the background of the numbers employed at NAMA reducing by 26 from 264 to 238 in 2018.

The numbers earning over €100,000 at the NTMA increased by 22 year on year from 141 to 163 as the numbers employed at the NTMA increased by 30 from 526 to 556 in 2018.

According to figures provided by Minister Donohoe, one person at the NTMA was earning over €400,000 in 2018 with one individual at NAMA in the same earning bracket.

The most recent accounts for the NTMA show that chief executive, Conor O’Kelly received salary and taxable benefits of €485,000 in 2017 and chief executive of NAMA, Brendan McDonagh received remuneration in 2017 of €422,807 made up of salary of €400,079 and taxable benefits of €22,728.

In his written Dáil response to Fianna Fáil’s Finance spokesman Michael McGrath, Minister Donohoe revealed that the numbers of staff at the NTMA on remuneration between €300,000 an €400,000 in 2018 was seven with zero in that earning bracket in NAMA.

Minister Donohoe revealed that 15 staff members at the NTMA were on remuneration between €200,000 and €300,000 with seven at the NAMA in the same earning bracket.

The Finance Minister also confirmed that there were 90 staff at NAMA earning between €100,000 and €200,000 last year with 140 NTMA staff in the same earning bracket.

In his written Dáil reply, Minister Donohoe said: “Total remuneration includes base salary and any taxable benefits paid including performance-related payments, paid in 2018 in respect of 2017.”

On the increase in numbers employed at the NTMA in 2018, a spokesman for the NTMA said on Wednesday: "Additional staff were required on foot of increased business volumes across the range of the NTMA’s mandates, as well as the NTMA’s statutory requirement to provide staff and other services for the establishment of Home Building Finance Ireland, which opened for business recently.”

Minister Donohoe said that the 2018 costs associated with NAMA’s voluntary redundancy scheme will be revealed in mid-2019 in NAMA’s annual report.

He stated that in 2017, €800,000 was incurred in respect of 10 members of staff who departed under the 2017 Voluntary Redundancy Scheme.

He stated: “Two employees left in 2017 and a further eight were placed on garden leave in 2018 in advance of their departure.”

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