‘Pay and bonus restrictions were the right thing to do at a time of crisis, but they are out of step with reality now’ – Francesca McDonagh interview

The chief executive of Bank of Ireland on the bank’s return to profitability, the acquisition of Davy, the tracker mortgage scandal and why now is the time to restore pre-crisis remuneration

Francesca McDonagh, chief executive, Bank of Ireland: ‘The Davy acquisition will strengthen the high-net worth individual offering, which we already have in the bank, but Davy is best in class at this and we look forward to using that offering for our customers.’ Picture: Naoise Culhane

After almost two years of restricted international travel, investor meetings are back on the corporate agenda and so Francesca McDonagh was preparing to fly to London for that very reason as soon as she finished speaking with the Business Post.

“We’re looking forward to actually meeting people face-to-face again,” the Bank of Ireland chief executive said as she wrapped up the publication of the lender’s financial results.

McDonagh has a more positive and altogether more ...