When will we know?
July 23, 2012
Dear Sir,
The Bermuda Monetary Authority Annual Report 2011 is most instructive. Note 18 to the financial statements discloses that in 2011 the BMA paid total salaries and bonuses of $24,041,000 (the basic figure before other payroll costs) to 155 employees. An average of an unbelievable $155,103 per employee! Given that (presumably) a majority of the employees are paid significantly less than $155,103, it seems reasonable to infer that former CEO Matthew Elderfield could indeed have been paid $730,000, as stated in 2010 by the Governor of the Central Bank of Ireland. http://www.royalgazette.com/article/20091223/BUSINESS/312239972. But we’ll soon be able to invoke PATI and know for sure, won’t we? (Don’t hold your breath!)
DUMBFOUNDED
Warwick
Need to
Know
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Published Jul 25, 2012 at 8:39 am (Updated Jul 25, 2012 at 8:38 am)