Directors at head hunters Merc share €1m pay pot

Four directors at top head-hunting agency Merc Partners last year shared a pay pot just under €1m.

The Dublin firm was involved last year in the search for a new director-general of RTÉ, and was appointed by the Department of Finance to identify candidates to find a new governor of the Central Bank.

The company’s accumulated profits last year increased from over €1.04m to €1.15m and its cash pile rose from €555,758 to €870,106.

The firm is led by managing partner Ruth Curran. Other directors that served last year were Finbarr O’Connor, John Glenny, and Kieran Duff. Mr O’Connor resigned from the board in September 2015.

The directors’ renumeration last year included €865,432 in pay and €128,800 in pension payments.

A year earlier, pay and pensions to directors totalled almost €1.02m

Including directors’ pay, total staff costs increased from €1.76m to €1.87m.

The Department of Finance paid Merc Partners €45,100 in its search for the new governor of the Central Bank. Philip Lane beat competition from 16 other candidates for the post.

The firm has also in the past been employed to identify candidates for chief executive post at business group Ibec, the secretary general at the Department of Finance, group chief executive post at Bord Gáis Éireann, and executive director roles for The Samaritans and Trócaire.

The firm’s staff numbers was unchanged at 16 people, with 10 people working in management and administration roles, and three people employed as consultants and three staff in research.

Shareholder funds at the end of May last stood at €1.17m.

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