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Fsc Chief Exec Pay Rise


When Skies Are Grey

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Seems quite high, but still just half what the CEO of the UK's FSA was getting in 2004. Granted the Isle of Man's financial service industry is less than half the size of the UK's, but given its relative importance in the local economy it is important to attract well qualified candidates, so the salary has to be commensurate with what they could expect to be paid in the banking industry based on their experience.

 

Whether the guy is doing a good job and therefore worthy of the position is something on which I am less able to comment. Generally speaking the Isle of Man is regarded as relatively well regulated compared to other offshore jurisdictions. There are certainly questions over the FSC's handling of KSFIOM but I suspect a lot of that is hot air from aggrieved depositors rather than symptomatic of substantial failing on the part of the FSC.

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One thing we have learned from recent events is that paying high salaries doesn't guarantee getting good people.

 

In fact, it seems to guarantee getting people who are "only in it for the money".

 

S

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Great news, most people have been told no pay rise this year but JOHN ASPDEN chief at the FSC is to get a £25000.00 a year rise bring his salary up to £250000pa. This follows the the £24k pay rise he got last April

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Great news, most people have ben told no pay rise this year but JOHN ASPDEN chief at the FSC is to get a £25000.00 a year rise bring his salary up to £250000pa

that must be because he does such a great job?? i bet he is still laughing his smarmy smug head off.

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