Business Irish

Sunday 19 November 2017

State contracts boost head-hunter pay pot

Managing partner Ruth Curran
Managing partner Ruth Curran

Gordon Deegan

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

Last year, the Dublin firm was involved in the search for a new Director General for RTE while it was also appointed by the Department of Finance to identify candidates for the prestigious Governor of Central Bank post.

New accounts filed by Merc Partners Ltd with the Companies Office show that the firm last year recorded an increase in profits of €111,771.

The profit for the 12 months to the end of May 31 last is an increase on the profits of €99,823 it achieved in the prior year.

The firm is led by managing partner Ruth Curran. Other directors that served last year are Finbarr O'Connor, John Glenny and Kieran Duff. Mr O'Connor resigned from the board in September 2015.

The directors' pay was last year made up of €865,432 in emoluments and €128,800 in pension payments. This follows pay and pension payments to directors totalling €1.019m in 2015.

The firm's staff numbers remained static at 16 with numbers in management/administration at 10; three consultants and three in research.

The firm's staff costs, including directors' pay, increased from €1.76m to €1.87m.

The company's accumulated profits last year increased from €1.042m to €1.154m. The firm's cash pile during the year increased from €555,758 to €870,106.

Shareholder funds last May stood at €1.17m.

Irish Independent

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