NTMA pays €3,000 a week in PR fees

Finance Minister Michael Noonan has confirmed that the PR firm that represents the National Treasury Management Agency (NTMA) last year received fees totalling over €3,000 per week.

New figures provided by Mr Noonan show that the NTMA last year paid Dublin firm, Gordon MRM €165,059 (ex Vat). This followed the firm receiving €159,826 from the NTMA in 2013.

The firm beat competition from rivals to secure a renewal of its contact in December 2012.

The payments to Gordon MRM by the NTMA last year are significantly down on the €223,973 paid to the firm in 2012.

In his written Dáil response to Fianna Fáil Finance spokesman, Michael McGrath, Mr Noonan said that the initial contact in place from 2010 to 2012 was based on an hourly rate for services provided.

He said: “During the term of this contract a 20% reduction in the hourly rate was agreed with effect from June 2011 until the end of the contract.”

Gordon MRM acts for all of the business areas under the NTMA umbrella including Debt Management, Ireland Strategic Investment Fund, National Development Finance Agency, State Claims Agency and NewERA.

Gordon MRM was established in early 2009 by Ray Gordon and a number of colleagues. Other clients include the Irish Stock Exchange, Permanent tsb group holdings plc, Irish Medical Organisation (IMO) and Topaz.

The firm’s accounts to the Companies Office show that accumulated losses declined marginally from €45,809 to €45,683 in the 12 months to the end of February 2014

The abridged accounts filed by Media Relations and Reputation Management Ltd do not provide a revenue figure, but €208,075 paid under PAYE/PRSI indicate generous salaries for the team working at the firm.


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