Hoban defends MAS as McFall criticises CEO's £350k pay

At an evidence hearing for the Joint Committee on the Draft Financial Services Bill yesterday, Lord McFall quizzed Hoban over high pay levels at the service at a time when it is on the verge of almost halving its staff from 150. McFall said: "Here is a body looking for financial inclusion and you've got a chief executive on £350,000, twice the Prime Minister, for a staff in the New Year of 77. "I'm informed three directors have been appointed in the last eight or nine months on six figure salaries as well. "Given there is a gap in the market, particularly after RDR, is there not a ...