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Ulster Bank boss says he will give up bonus

The change of heart came just hours after he had repeatedly refused to discuss giving up his bonus earlier today.

Jim Brown
Jim Brown
Image: Mark Stedman/Photocall Ireland

ULSTER BANK CEO Jim Brown has said he will not take a bonus this year, just hours after he had repeatedly refused to discuss giving up the payment.

In a statement released late this evening, Brown said that he has informed the Ulster Bank board that he does not wish to be considered for an annual bonus for 2012. He said that he is personally committed to re-earning the trust of customers.

The move comes six days after the head of RBS, which owns Ulster Bank, said that he would give up his bonus.

Brown refused to give details on how much he is paid or how much his bonus is worth when he was questioned by Independent TD Shane Ross this afternoon.

Brown and two other senior managers at Ulster Bank/RBS appeared before an Oireachtas committee today to answer questions about the technical problems at the bank which have been been affecting customers for 16 days.

Brown told the committee that he would ‘guesstimate’ that between 500,000 and 600,000 of the bank’s customers have been affected by the ongoing glitch.

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The bank representatives said that customers will receive compensation for the problem.

LIVEBLOG: Ulster Bank chiefs appear before Oireachtas committee >

Ulster Bank customers still receiving warning letters >

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Christine Bohan

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