24 April 2013
FG/Labour Finance Minister bottles it on big banker pay at AGM
Bank of Ireland chief’s cap-busting pay no concern to Michael Noonan or Labour leadership
THE Fine Gael/Labour Finance Minister has no problem hammering low- and middle-income earners but Michael Noonan will sit idly by at today’s Bank of Ireland AGM vote on the huge pay package of CEO Richie Boucher.
Minister Noonan holds a 15% stake in BoI on behalf of the taxpayer but he will sit on it when it comes to the vote and abstain.
'Richie Rich' – described in the Dáil by even a Labour TD as “one of the architects of the lending bubble” – takes a basic salary of €690,000 (smashing the Government cap of €500,000) which with add-ons and pension payments ratchets up to more than €800,000.
Wednesday’s Irish Times says that Finance Minister Noonan is being urged to “send very clear message over ‘outrageous salaries’ in banks”.
He is.
His message is: keep on coining it at the top.
Follow us on Facebook
An Phoblacht on Twitter
Uncomfortable Conversations
An initiative for dialogue
for reconciliation
— — — — — — —
Contributions from key figures in the churches, academia and wider civic society as well as senior republican figures