SMBC files operating profits of $361.8m
New figures show that the firm’s 73 staff last year shared a pay bonanza of $38.7 million
SMBC is led by a predominantly Irish executive team and is one of the top commercial lessors worldwide
The aircraft leasing firm at the centre one of the biggest deals in Irish corporate history recorded operating profits for last year of $361.8 million (€264.6 million).
SMBC is led by a predominantly Irish executive team and is one of the top commercial lessors worldwide. New figures filed with the Companies Office show that the firm’s 73 staff last year shared a pay bonanza of $38.7 million in salaries – or on average over $530,000 (€387,669) each.
There are 11 directors, including four Irish directors. The figures show that the firm’s key management personnel last year shared salaries and pension benefits totalling $17.35 million.
SMBC’s top executive directors are Irish and resident in Dublin. They are listed as chief executive Peter Barrett; chief legal officer Catherine Ennis; chief financial officer Barry Flannery and chief operating officer, David Swan. The company is based at the IFSC.
Pre-tax losses of $123.8 million were recorded after exceptional or “break” costs of $321 million relating to the purchase of the firm from RBS and interest payments of $160.7 million.
RBS Aerospace was spawned from International Aviation Management (IAM) – a company established by Clare-born entrepreneur Domhnall Slattery. Mr Slattery sold IAM to RBS in 2001 for an estimated €36 million.