AIB execs - in excess

AIB seeks return of bonuses and end of executive pay cap - Financial Services News | Business News | The Irish Times - Wed, Jan 29, 2014: "The Government currently imposes a cap of €500,000 on bank executives and no bonuses are allowed. In 2012, AIB chief executive David Duffy was paid a salary of €475,000 and a pension payment of €71,000 for a total remuneration of €546,000.
This move on pay was said to be part of a long-term strategy by AIB to retain and secure key staff. The bank is concerned that it could lose key personnel to rival Bank of Ireland, which has largely freed itself of State influence having repaid its contingent capital notes and preference shares.
The Government’s holding in Bank of Ireland is just under 14 per cent, compared with 99.8 per cent with AIB."



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