Financial secretary Mark Hoban has defended the Money Advice Service after a prominent peer launched an attack on pay levels at the organisation.
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 ...
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