herald

Saturday 20 December 2014

Outrage at €500k pay of six Anglo bankers

FINANCE Minister Michael Noonan is facing a furious backlash from Government TDs over the revelation that six Anglo bankers are enjoying packages worth more than €500,000 per year.

The incomes being paid by the taxpayer-owned bank have caused deep alarm among Fine Gael and Labour deputies, with one TD demanding that the issue be tackled "without delay".

Mr Noonan has revealed that six executives at the newly named Irish Bank Resolution Corporation (IBRC) receive annual packages which surpass the €500,000 cap on bankers' pay. One of those is IBRC Chief Executive Mike Aynsley, who takes home a €663,000 package per year.

And the head of the bank's UK operations, Jim Brydie, is on a salary of €501,000.

A further 12 staff are in receipt of remuneration packages of €300,000-€399,000, including head of Irish recoveries Mark Layther, chief financial officer Jim Bradley and head of specialised management Richard Woodhouse.

Fine Gael TD for Dublin South, Olivia Mitchell, told the Herald: "These current pay packages have been put in place since the collapse. They are absolutely fairyland wages and the people of this country should not have to accept them."

And Labour TD for Dublin Mid West, Robert Dowds, said the size of the packages sit "very uneasy with me... I will be supporting anything in this Budget that ensures a much fairer system which is what the public deserve."

The figures are revealed as thousands of rank and file banking workers face the prospect of losing their jobs next year.

And they come just days after Taoiseach Enda Kenny ruled out the possibility of slashing the pensions of former bankers.

The focus on pensions took centre stage in the Dail this week after former AIB boss Eugene Sheehy took a voluntary cut in his package after being confronted by the Herald.

hnews@herald.ie

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