Money Advice Service chiefs share £100k bonus pot
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Money Advice Service chief Tony Hobman and four senior managers shared a £100,000 bonus pot in the last financial year, despite a raft of job cuts at the firm.
According to the Financial Mail on Sunday, chief executive Hobman (pictured) received a £35,000 bonus, with £66,000 shared among four other senior managers.
Money Marketing revealed that MAS was putting over half of its staff on consultation last year after a review of its products, services and delivery channels.
The bonus pool came to light after Parliamentary questions by Labour Treasury spokesman Chris Leslie.
He said: “These are unacceptable rewards for a public body that has yet to make its mark,’
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Readers' comments (9)
Alan Lakey | 23 Jan 2012 8:45 am
Yet more snouts dipping into the financial services trough.
My reward for failure is a lack of food and repossession of my property. Their reward for a lack of competence and dismal vision is a fat bonus.
Journalists take note. The days of fat fees and juicy commissions are gone. Join the gobshites and get bonuses for failure, thataboy.
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Nick | 23 Jan 2012 9:07 am
Email from Tony Hobman to staff -
You will probably be made redundant soon due to my failure, but I will be getting a bonus to reward my failure, this is how the system works, my mate Hector told me!
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Nicholas Walker | 23 Jan 2012 9:14 am
A bonus? On what basis? It's a sad day when senior executives get paid fat bonuses when half the staff lose their jobs. Void of conscience or a lot of sleeping tablets.
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huw | 23 Jan 2012 9:56 am
I am not overly impressed by 'bankers' in general but a bit of overpaid incompetent public servant bashing is urgently required instead.
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Julian Stevens | 23 Jan 2012 10:12 am
Another public sector gravy train funded by the private sector. We wonder what the FSA's 2011 bonus pot for failure will have been ~ not far short of £30m is my guess. And how much was spent on the FSA's report into how it negligently allowed RBS almost to collapse?
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Tricia Yates | 23 Jan 2012 10:24 am
Shameful
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Peter Butcher | 23 Jan 2012 11:02 am
That's a breath of fresh air.
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Sean | 23 Jan 2012 12:29 pm
Set up by the Government paid for by the industry.
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steve | 23 Jan 2012 4:04 pm
I thought he MAS already had great motivation due to their inflated salaries?
I wonder whose idea it was to dish out this little bonus in the first place, shameful!
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