Total pay for the Financial Ombudsman Service’s executive team rose by 20 per cent in 2013/14 to £1.7m.
The FOS’ directors report and annual accounts, published this week, show this compares to £1.4m in 2012/13.
FOS interim chief executive and chief ombudsman Tony Boorman, who took over the role in December, earned a total pay package of £293,406 for 2013/14.
He earned a base salary of £235,964, pension benefits of £24,010 and other benefits of £33,432.
Other benefits includes use of a flat in London Docklands which was leased by the FOS until 31 May 2013. The FOS says the cost of the benefit, together with a lump sum payment towards Boorman’s relocation to London, was £25,227.
His total pay is 15 per cent higher than the £255,205 he earned in 2012/13, when he was deputy chief executive and chief ombudsman.
Former chief executive Natalie Ceeney, who stepped down in December, earned total pay of £258,750 in 2013/14. She earned £256,064 during the previous financial year.
FOS principal ombudsman and legal director Caroline Wayman received a total pay package of £227,020 in 2013/14, up by 8 per cent on the £209,944 she earned in 2012/13.
She also claimed total expenses worth £6,508 during 2013/14, the highest among the executive team.
This included a £5,692 travel bill, which the FOS says includes a flight to attend an educational programme on ‘Leading change and organisational renewal’ at Stanford University in California.
The FOS made a pre-tax surplus of £112.6m for 2013/14, compared to a pre-tax deficit of £23.4m in 2012/13.
The ombudsman received 512,167 new cases in 2013/14, up by 1 per cent from the 508,881 cases received in 2012/13.
It resolved 518,778 cases in 2013/14, more than double the 223,229 cases it resolved in 2012/13.
On average, the FOS employed 3,389 employees during 2013/14, including 150 ombudsmen. This compares to 2,288 employees and 100 ombudsmen in 2012/13.
The FOS’ total staff costs were £142.8m in 2013/14, up from £100m in 2012/13.