Tuesday March 31, 2020

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

Ian Guider

Markets Editor

23rd September, 2018
Mark Bourke and Bernard Byrne of AIB: Bourke is stepping down in early 2019 Pic: Feargal Ward

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...

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