The Financial Ombudsman Service's (FOS) executive team has earned a total of £1.442m including benefits in the 2012/13 financial year, according to its audited directors' report and financial statements published last week.
Last year, the nine-person team earned £120,067 less, at £1,322,696. Chief executive Natalie Ceeney succeeded her deputy Tony Boorman in being the highest paid executive member on a total remuneration of £256,064, after she had received a pay rise of about £20,000 this year. The report said: "In line with the recommendations of the Hutton Review into Fair Pay in the Public Sector (March 2011) all members of the executive team have their remuneration structured so that an element of their salary is 'at risk'. "15% of their salary is held back until the end of the year - and is paid ...
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