Wells Street Journal: Adviser riler Hoban to earn £150k for 7hrs a week

Parliament dissolved last week, and in so doing it brought to a close the sad end of a number of parliamentary careers.

Gordon Brown, Jack Straw, William Hague, Glenda Jackson and Mark Hoban are among the individuals having to cover up the letters “MP” on their engraved stationery.

Few are likely to be kicking their heels, and former Treasury and DWP man Hoban may be busier than most.

Hoban, who represented the constituency of Fareham from 2001 to 2015, has slickly transitioned to a handful of new roles, including a spot on the board of the London Stock Exchange and a job with financial information company Markit.

And the former employment minister will also serve as chairman of Flood Re, a reinsurance programme designed to protect homes from the cost of flooding.

It is a role that puts him right at the heart of the general insurance industry, and will see him remunerated with a salary of £150,000.

Hoban is remembered fondly by advisers who he once compared to McDonalds workers.

Although a Flood Re spokeswoman declined to specify the amount of time Hoban would spend on the insurance project, the final entry of this Parliament’s register of interests has the former MP noting an expectation of 7 hours per week.

You’d expect nothing more from a parliamentarian who has described “hard work, getting on in life, and services to the community” as his values. Hopefully, he will find time out from his busy schedule to visit his local fast food outlet. If he’s lucky, an adviser might give him a free happy meal.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com