Matt Cooper: McDonagh’s departure from BoI brings bankers’ pay back into focus
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
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 ...
