Two top First Active executives earn €1.274m

FIRST ACTIVE’S top two executives walked away with a cool 1.274 million in salaries and bonuses in 2002.

Chief executive Cormac McCarthy’s total package came to €682,000 for the year, while his deputy Michael Torpey was rewarded with a remuneration package of €592,000 for the year.

Mr McCarthy’s basic salary was €350,000 topped up by a substantial bonus of €196,000 for the year. Pension payments added another €112,000 and the entire package was rounded off with a benefit in kind allocation €24,000. In 2001, Mr McCarthy’s total package amounted to €489,000, significantly less than his deputy. In that year, Torpey came out on top with total earnings of €550,000.