Salary of incoming AIB head to exceed State cap on bank pay - The Irish Times - Tue, Nov 17, 2009
AIB’s board had wanted the Government to accept the appointment of Mr Doherty, who ran the bank’s profitable capital markets division, as chief executive. However, following the controversy surrounding Bank of Ireland’s appointment of an insider, Richie Boucher, as its chief executive last January, the Government encouraged the bank to seek an external appointee instead.
After a trawl of both internal and external candidates, the board of the bank felt that Mr Doherty was the best candidate for the job. The proposed salary of EUR500,000 for the role of chief executive was reported to have been a reason why some outside candidates turned the job down.
And I edge yet closer to pulling my money out of AIB and moving to another bank, most likely not one of the Irish banks.