Tuesday 25 October 2016

NTMA/NAMA PR firm was paid €3,400 a week in 2015

Gordon Deegan

Published 28/01/2016 | 02:30

The Minister for Finance Michael Noonan T.D.
The Minister for Finance Michael Noonan T.D.

The Minister for Finance, Michael Noonan, has confirmed that the PR firm that represents the National Treasury Management Agency (NTMA) and the National Asset Management Agency (NAMA) last year received fees totalling over €3,400 per week.

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New figures provided by Minister Noonan, inset, show that the two bodies paid Dublin firm Gordon MRM €177,959 (ex VAT) last year.

This represented an 8pc increase on the €165,059 paid out to the firm in 2014 and followed €159,826 the NTMA and NAMA paid to the firm in 2013

The Dublin firm beat competition from rivals to secure a renewal of its NTMA/NAMA contract in December 2012 and Minister Noonan has confirmed that the bodies have availed of the option of extending the PR contract to Gordon MRM by a further two years to January 2018.

The work Gordon MRM carried out on behalf of NAMA accounted for €79,750 of the NTMA fees last year.

The payments to Gordon MRM by the NTMA last year are significantly down on the €223,973 paid to the firm in 2012.

In his written Dáil response to the Fianna Fáil Finance spokesman, Michael McGrath, Mr Noonan said that the service provided by Gordon MRM includes out-of-hours contacts for the media and support across all of the NTMA's business areas.

Gordon MRM was established in early 2009 by Ray Gordon and a number of colleagues. The firm's growing client list include the Irish Stock Exchange, permanent TSB group holdings plc, the Irish Medical Organisation (IMO) and Topaz.

The firm's latest accounts show that the firm's accumulated losses declined marginally €45,683 in the 12 months to the end of February 2014

The abridged accounts do not provide a revenue figure, but €208,075 paid under PAYE/PRSI indicates generous salaries for staff.

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