UBS is highest earner as Nama fees jump 32pc to €13m in 2014
Swiss Investment bank UBS was the big winner in fees paid out last year by Nama, receiving €3.85m from the agency.
Minister Noonan also confirmed that legal firm McCann Fitzgerald received the second highest amount - €1.49m. The amount paid out by Nama in fees for legal, consultancy and advisory work totalled €13.14m - a 32pc jump on the €9.95m paid out in 2013.
In a detailed written Dail response to Deputy Michelle Mulherin (FG), Minister Noonan further states that Hogan Lovells International LLP received €852,000 in fees.
Other firms to receive more than €400,000 in fees last year include Aon Risk Solutions, which received €649,000, KPMG got €458,000 in fees.
Arthur Cox received €224,000 and PriceWaterhouse Coopers received €182,000. The figures provided by Minister Noonan show that fees paid to consultants and other firms in 2013 decreased from the €16.47m in 2012.
The largest payout to consultants took place in 2011 when €70.54m was paid out with the biggest proportion - €44.5m - being paid to firms carrying out due diligence on bank loans.
During that year, Nama recovered €34.5m from the banks on the due diligence costs.
The figures for 2014 show that the highest proportion of funds was spent on legal fees with €8.57m spend under that heading while an additional €3.775m was spent on portfolio fees.
The work of Nama has proved to be big business for legal, accountancy and other professional firms with €153m paid to firms for legal, consultancy and advisory between 2010 and 2014.
However, Nama was able to recover €64.1m of that amount on loan acquisitions.
To date, Nama has generated €24.5bn cash flows and the agency continues to record operating profits after impairments charges.