Market Talk: The cap doesn’t fit, so take it off
It’s time for the state to finally remove the damaging pay cap from the banking sector
At AIB’s annual general meeting in May, the bank’s top executives received a slapdown from Minister for Finance Paschal Donohoe over a plan to award senior staff share options. It was an unprecedented move for the government to use its controlling stake in the bank to vote down the move, but hardly surprising given the widespread anger over the tracker mortgage scandal that was raging at the time.
After the AIB agm, the ...
