Regulation  

Pay increases for executive board at FOS

The overall pay packet for senior staff at the Fos went up by £120,067 since the 2011-2012 financial year, when overall renumeration stood at £1,322,696.

Chief executive Natalie Ceeney has surpassed her deputy and principal ombudsman, Tony Boorman, as the highest paid member of the board, with her total salary, pension and other benefits adding up to £256,064. This was an overall increase of £19,260 on the previous year.

Tony Boorman’s take-home pay fell from £262,503 to £255,205, but his total renumeration included the lease on a flat in London Docklands over the financial year. The total cost of this perk, plus associated tax, was £44,475.

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Other board members that saw significant increases in pay include Caroline Wayman, principal ombudsman and legal director, whose remuneration package jumped from £163,230 to £209,944, and Jacquie Wiggett, head of human resources, whose pay jumped was worth £157,134 this year compared to £138,136 in 2011.

Before being appointed as interim operations director in March last year, whereupon his salary soared to £209,944.

Chris McDermott, who took over from Simon Rouse as interim operations director in March 2012, was paid £209,944 this year, compared to just £16,998 in 2011. A spokesman for FOS said this was because Mr McDermott, former chief executive at IT company LogicaCMG, was being “slowly introduced to the company” before his official appointment.