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FCA chair’s record annual expenses bill hits over £40k

FCA John Griffith-Jones 2012 700x450.jpg

FCA chairman John Griffith-Jones has surpassed the regulator’s executive expenses bill racking up more than £41,000 over 12 months.

The regulator revealed Griffith-Jones filed expenses of £41,132.75 in the 12 months ending in March through updated figures for allowances and expenses claimed by its chairman and executive board members.

Griffith-Jones racked up expenses of £7,260.91 in the first quarter of 2015/16, £13,489.61 in Q2, £8,988.17 in Q3 and £11,394.06 in Q4.

Former FCA chief executive Martin Wheatley’s annual bill for all of 2014/15 was previously the largest – the ex-boss claimed £33,017.59 for a full twelve months.

Across 2015/16, Griffith-Jones spent £34,652.04 on foreign travel and £3,547.94 on accommodation and subsistence while travelling overseas.

Domestic travel costs reached £2,085.84 for the year and domestic accommodation and subsistence spend was £846.93.

Griffith-Jones did not accumulate any costs for entertaining and working lunches over the 12 months.

Interim chief executive Tracey McDermott, who took over from Wheatley in September, incurred comparatively modest expenses of £6,367.73 in 2015/16.

Strategy and competition director Christopher Woolard, who joined the FCA board last August, spent £13,959.32 in allowances and expenses across the 12 months.



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There are 9 comments at the moment, we would love to hear your opinion too.

  1. I smell bisto

  2. Andrew Horlock 6th May 2016 at 12:01 pm

    Having a laugh, call me naive, but £34,652.04 on FOREIGN travel for the Chairman of the FCA, a British quango? why does he need to go abroad?

  3. Chairing the FCA is a big job with a very large international dimension. I am not in the least surprised at this level of expenses. I seriously doubt if the extent of international travel that this represents is in any way a cause of delight in the Griffith-Jones household.
    It is right that senior public servants should be subject to scrutiny in such matters. But let us hope that it is not a prompt for uninformed whinging.

    • Sorry Danby

      Who gives a flying …K about the delight in the Griffith-Jones household ?

      Likewise I bet they agonize daily over the cost and plight the FCA cause mine !

      Also go ask some of the families caught up in the CO-OP and HBOS debacle, caused by his crappy accounting !

      And I make no apology for my un-informed whinging…….

  4. Julian Stevens 6th May 2016 at 2:49 pm

    Brown it may be, but Bisto it ain’t. That aside:-

    1. Where did he go?

    2. Who did he meet?

    3. What was discussed?

    4. How many people came to London to meet him, rather than him having to travel to meet them?

    5. Were his trips First Class, Business Class or Economy? Ditto his accommodation.

    6. What benefits to UK regulation have all these overseas trips accomplished?

  5. When major corporations don’t use business class why should he?
    How about a CBA on these trips? As to the “damage” to his family life he took the position it wasn’t forced on him

  6. Pink Floyd summation :

    “And after a while, you can work on points for style.
    Like the club tie, and the firm handshake,
    A certain look in the eye and an easy smile.
    You have to be trusted by the people that you lie to,
    So that when they turn their backs on you,
    You’ll get the chance to put the knife in”

  7. Better still:

    “And did we tell you the name of the game, boy,
    We call it Riding the Gravy Train”

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