7KEVIN

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - NOWLAN, HIBERNIA REIT, €3.56M O’LEARY, RYANAIR,

A most in­ter­est­ing new en­trant here on foot of Hibernia’s de­ci­sion to in­ter­nalise its man­age­ment team.

Pre­vi­ously, Nowlan had been op­er­at­ing un­der an ‘in­vest­ment man­ager agree­ment’ which saw much of his pay go to an ex­ter­nal com­pany, which included oth­ers linked to Hibernia.

This meant it was dif­fi­cult to get a read on what he was get­ting as an in­di­vid­ual.

The 2017 an­nual re­port re­veals that on top of a ba­sic pack­age of €364,000, €3.2m was due to Nowlan for the fi­nan­cial year un­der the in­ter­nal­i­sa­tion agree­ment.

The out­look for Hibernia ap­pears rosy as de­mand for of­fice space in the cap­i­tal re­mains strong.

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