AIB: pay cap puts us on Brexit back foot

AIB: pay cap puts us on Brexit back foot

Bank claims it will be unable to compete for top executives

AIB has warned that its ability to retain key executives is in jeopardy if an influx of bankers due to Brexit places upward pressure on pay rates.

AIB is restricted in the compensation it can award senior staff because of the state’s cap on salaries and bonuses.

In a regulatory filing last week, AIB said its ability to attract and keep its staff was a risk for the bank’s long-term sustainable growth.

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