NTMA restarts bonus payments with near €80,000 outlay in 2014
In a Dáil response to Fianna Fáil’s finance spokesman Michael McGrath, Mr Noonan confirmed that bonus payments of €79,200 were paid to 16 NTMA staff in 2014.
Mr Noonan confirmed, however, that no staff at Nama — which also operates under the NTMA umbrella — received a bonus last year. He further confirmed that no performance-related payments were made to any staff earning over €150,000.
The bonus payments in 2014 represent an 84% increase on the €43,000 paid out to six NTMA staff in 2012, and again none of the staff were employed by Nama. In 2011, the NTMA paid out €62,610 in bonuses to five staff and this represented a dramatic reduction on the bonus payments of €1.9m shared by 258 NTMA staff in 2010.
Separately, Mr Noonan confirmed that a firm, Ambiorix Ltd — jointly controlled by developer Johnny Ronan and Paddy McKillen — last year received €1.98m rent from Nama for its headquarters at Treasury Building, Dublin.
Both Mr Ronan and Mr McKillen — who have had their own battles with Nama — sit on the board of Ambiorix and jointly own the firm.
The most recent accounts for the firm show that it recorded profits of €7.4m in 2013, with accumulated profits jumping from €5m to €12.4m. The value of the firm’s tangible assets in 2013 rose from €40m to €54m.
The €1.98m paid to Ambriorix last year was part of €3m paid out by Nama in rent and occupancy costs. Some €406,000 was paid out to Active Facilities and Property Management; €514,000 to Savills Commercial (Ireland) Ltd, €112,000 to Energia and €45,000 to CRM Commercial Refurbishment and Management.
Last year, Nama paid out €8.57m in legal fees and two legal firms in Ireland received fees totalling over €400,000 last year, with McCann Fitzgerald receiving €582,000 and Ronan Daly Jermyn solicitors receiving €410,000.
Other firms to receive six figure sums for legal work include €283,000 to Arthur Cox; €245,000 to Eugene F Collins; €240,000 to Beauchamps Solicitors; €208,000 to Mason Hayes + Curran; €177,000 to Hayes Solicitors; €157,000 to LK Shields Solicitors; €151,000 to Lavelle Coleman Solicitors; €130,000 to Byrne Wallace; €129,000 to Matheson; €116,000 to A&L Goodbody Solicitors; €112,000 to Eversheds O’Donnell Sweeney and €101,000 to Maples & Calder.
Nama spent a further €7m in Portfolio Transition Costs with €5m to the IBRC and €3.69m to Capita Asset Services (Ireland) Ltd. Mr Noonan also confirmed that Deloitte & Touche received €378,000 for internal audit costs with PWC receiving €376,000 for the same work. Nama last year spent €4.3m on finance, communication and technology costs with Fenergo receiving the highest amount at €1.97m followed by KPMG who received €915,000 and PWC which received €259,000.
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