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Money Advice Service chiefs share £100k bonus pot

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

  1. 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.

  2. 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!

  3. 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.

  4. I am not overly impressed by ‘bankers’ in general but a bit of overpaid incompetent public servant bashing is urgently required instead.

  5. 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?

  6. That’s a breath of fresh air.

  7. Set up by the Government paid for by the industry.

  8. 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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