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

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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...

 

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

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