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

Irish Independent - Business Week - - NEWS - Gor­don Dee­gan

FOUR di­rec­tors at top head­hunt­ing 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.

Man­ag­ing part­ner Ruth Cur­ran

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