Bank pay caps ‘huge concern’ for investors, Donohoe told
Heavy hitters highlight drop in AIB shares after Bernard Byrne resignation
Paschal Donohoe rejected an AIB plan to reinstate bonuses last year. Photograph: Laura Hutton
Irish bank pay caps and bonus restrictions are now a major worry, a group of investors have told the Minister for Finance Paschal Donohoe, as the Government weighs whether to ease pay caps at bailed-out lenders.
Mr Donohoe met a shareholder group brought together by Deutsche Bank in Dublin on November 22nd. At the meeting, investors told Mr Donohoe that restrictions on executive pay at AIB and other partly State-owned lenders are “now a huge concern”even as they recognised the political sensitivity around easing restrictions, according to an internal summary of feedback prepared for the Minister.