Wednesday 24 May 2017

Head-hunting company's directors share €1m in pay

Managing partner Ruth Curran
Managing partner Ruth Curran

Gordon Deegan

Four directors at top head- hunting agency Merc Partners shared a pay pot of over €1m last year.

The Dublin firm was appointed by the Department of Finance in 2015 to identify candidates for the post of Central Bank Governor. The firm is currently involved in the search for a new Director General for RTE.

New accounts filed by Merc Partners Ltd with the Companies Office show profits rose by €99,823 last year.

The profit for the 12 months to the end of May 31 last is down sharply on the profits of €204,869 achieved in the prior year. The fall is mainly due to expansion costs as the numbers employed grew.

The firm is led by managing partner Ruth Curran, and other directors are listed as Finbarr O'Connor, John Glenny and Kieran Duff.

The directors' pay last year was made up of €772,940 in emoluments and €248,384 in pension payments. Pay and pension payments totalled €968,055 in 2014.

Finance Minister Michael Noonan confirmed last year that Merc Partners was paid €45,100 for its work in the search for the new Central Bank boss.

The firm has also been employed to identify candidates for a chief executive post in Ibec; secretary general in the Department of Finance; group chief executive for Bord Gáis Eireann and executive director roles for The Samaritans and Trócaire.

The firm took on two staff last year, bringing the total to 16, made up of ten in management/administration, three consultants and three in research.

Costs rose from €1.593m to €1.769m. Accumulated profits last year increased from €943,162 to €1.042m. The cash pile during the year increased from €485,342 to €555,758.

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