Matt Cooper: McDonagh’s departure from BoI brings bankers’ pay back into focus | Business Post

  • 📰 businessposthq
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 71%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

If politicians insist that the bank’s new boss is paid a maximum of €500,000, the share price will likely fall further and Irish pension funds may suffer, cooper_m writes.

Francesca McDonagh, former chief executive of Bank of Ireland: as the boss of BoI, she oversaw the repayment to the state of not just the €4.7 billion bailout bill, but an additional €1.8 billion profit as well. Picture: Naoise Culhane

It could be argued that Francesca McDonagh was well worth the near €1 million per annum she received for her efforts as chief executive of Bank of Ireland. Many would likely recoil from that suggestion, however, even those who would have no problem with their favourite English football players being paid way in excess of that each year, or their favourite actors or pop stars, on the basis that it is the market rate. Not...

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

cooper_m Won't somebody think of the half a million a year bankers?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines