Minister 'concerned' by MAS boss Hobman's £250k salary

clock

A government minister has joined the growing number of voices expressing concerns about Money Advice Service chief executive Tony Hobman's remuneration package.

In December, MPs on the Business, Innovation and Skills (BIS) Committee said his pay before benefits of £250,000 a year created a perception of "extravagance" at a time of pay restraint and called on the government to raise the issue with the Financial Services Authority (FSA). Speaking to Credit Today, business minister Norman Lamb questioned whether Hobman (pictured) deserved the remuneration package. "I have a question mark over whether one can justify that level of salary when you compare it with the Prime Minister and so forth," he said. "It is not for me to reach conclusions on ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Advertising watchdog upholds complaint against car rental 'investment' firm

Advertising watchdog upholds complaint against car rental 'investment' firm

Second complaint to be upheld against the business in just over a month

Jen Frost
clock 07 May 2025 • 4 min read
FCA seeks feedback on cryptoasset trading regulation

FCA seeks feedback on cryptoasset trading regulation

Aims to build confidence in the sector

Patrick Brusnahan
clock 02 May 2025 • 1 min read
Schroders becomes first to adopt all four SDR labels

Schroders becomes first to adopt all four SDR labels

Includes 'Sustainability Mixed Goals' label

Linus Uhlig
clock 27 January 2025 • 1 min read