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The finance minister is currently considering a report which reviewed whether bankers’ pay should be increased.
The new laws were drawn up in the wake of the tracker-mortgage scandal.
Following the banking crash, a government policy on bonuses was rolled out for State-owned banks.
Minister for Finance Paschal Donohoe has said that State-owned banks are at risk of losing key figures.
Paschal Donohoe says he’s prepared to use his influence as a shareholder if he’s not satisfied with how banks perform.
The Finance Minister has confirmed he met with officials from the bank, but “personally reinforced” that there are currently no plans to re-introduce bonuses.
AIB declined to comment if they held discussions with government about changing compensation policy for top bankers.
The Bank of Ireland chief executive got into a testy exchange with a Labour TD over his pay packet today.
The bank’s CEO David Duffy said that no investigations had happened during his tenure and that discussing past directors would be “therapeutic but unfair”.
The taxpayer’s 15 per cent stake in the bank won’t be used to try and stop shareholders approving Richie Boucher’s pay.
MEPs support a move that would limit bonuses to 100 per cent of salary from January of next year.
It was revealed that the CEO of Bank of Ireland Richie Boucher received a total pay packet worth €843,000 last year – despite a €2.1 billion loss at the bank.
Sinn Féin says Michael Noonan is ‘feigning outrage’ at bankers pay, but doing little to encourage staff to take pay cuts.
Michael Noonan says he “shares the outrage of the public” on bankers pay, but there are “legal constraints” in tackling it.
Labour Party TD for Dublin North Brendan Ryan says the Irish public “will not stand for further cuts in education or other frontline services”.
Figures disclosed by Finance Minister Michael Noonan detail the remuneration packages of senior bankers at the former Anglo Irish Bank.
Enda Kenny says the AIB chief has written to former executives, asking them to recall their ‘moral responsibility’.
861 in AIB, 61 in Permanent TSB, 143 in IBRC and 644 in Bank of Ireland paid over €100,000.
Some are even calling it ‘El Nama’…
Chief executives at 15 leading banks were awarded an extra €12.8 million over the past year.
Hundreds of bankers in AIB, Permanent TSB – all essentially State-owned institutions – are taking home basic salaries in excess of €100,000.
Bank of Ireland’s annual report shows Richie Boucher benefited by €831,000 last year after waiving €67,000 of pay.
In the Fix: Whitney Houston’s last performance, and Merkozy ‘hijacking’ eurozone policy.
Michael Noonan says he is considering bringing in outsiders to help him enforce the findings of a review of banking salaries.
Matthew Elderfield says the pay cap is making it tough to get the best talent. Should we consider lifting it?
Amendment to Finance Bill will bring in levy but it will not apply to the deferred 2008 payments of €40m to AIB senior staff.
AIB senior bankers not the only happy ‘key staff’ renumerated this year…
Up to 2,400 staff in AIB are set to benefit from €40 million in bonuses. Is this only fair, or is too much of a kick in the teeth to taxpayers? Let us know what you think.
Bank bailed out by taxpayers says it is contractually obliged to pay bonuses from 2008 – the year the banking crisis hit.
A new code will see at least 40% of bonuses deferred for three years.