Capita the main winner of Nama fees in first half

Finance firm Capita Asset Services Ireland has emerged as the big winner in Nama’s payout for professional services in the first six months of this year.

According to information released by Nama in response to a freedom of information request the agency paid out €13.46m to Capita Asset Services (Ireland) Ltd between January and June.

Nama paid out €33.8m for professional services for the first six months of 2015.

The figures show that the largest payout was to firms managing Nama’s loan book, with Capita Asset Services (Ireland) Ltd receiving €11.9m for primary servicer work between January and June this year.

Capita received an additional €678,000 through master servicer fees that are secured for enforcing loan documents and €874,000 for portfolio management fees.

The most recently-filed accounts by Maynooth-based Capita Asset Services Ltd show it recorded pre-tax profits of €3.9m as revenues rose 25% to €23.78m in 2013.

The six directors who served for the firm (a subsidiary of Capita plc) during the year received aggregate remuneration of €1.44m with the highest paid director receiving €401,250.

Numbers employed rose from 70 to 111. Staff costs topped €8.48m while the firm paid a dividend of €1.29m to is parent during the year.

Nama paid out €24.7m to firms or banks managing its loans in the period.

AIB got €7.25m for its primary service work with the IBRC receiving €4.3m and Bank of Ireland receiving €1.2m.

The agency paid out €4.65m to firms managing various Nama portfolios. Bank of Ireland received €907,000 in portfolio fees, with Aon Risk Solutions receiving €376,000; Ernst & Young receiving €330,000; Jones Lang Lasalle London receiving €239,000 and Grant Thornton Corporate and BTG Global Risk Partners each receiving €156,000.

Nama paid out €2.64m in legal fees with Beauchamps Solicitors receiving €380,000; A&L Goodbody Solicitors receiving €370,000; McCann Fitzgerald, €296,000; Byrne Wallace, €155,000; Ronan Daly Jermyn, €123,000 and Lavelle Solicitors, €101,000.

Nama also confirmed that KMPG received €293,000 and PwC got €235,000.


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