IBRC's top six earn over €500,000 a year

The former Anglo Irish Bank has revealed the names of the five highest-paid executives at the State-owned bank and how much their packages are worth.

Minister for Finance Michael Noonan yesterday confirmed six executives at Irish Bank Resolution Corporation (IBRC), including chief executive Mike Aynsley, are receiving annual pay packages of more than €500,000.

There are 12 staff at IBRC in receipt of remuneration packages of €300,000-€399,000, 24 on€200,000-€299,000 and 44 on €150,000- €199,000. The packages include salaries, pensions benefits and allowances. Some 146 IBRC staff earn €100,000-€149,000, while 774 earn less than €100,000.

The figures were given to Fianna Fáil TD Michael McGrath in response to a Dáil question.

IBRC chief Mike Aynsley said last week his pay is €663,000, comprising a €500,000 salary, allowances of €38,000 and a pension sum of €125,000.

The bank last night disclosed to The Irish Times the pay of the other five top managers.

Chief financial officer Jim Bradley, head of asset recoveries Tom Hunersen, head of Irish recoveries Mark Layther and head of specialised asset management Richard Woodhouse are each paid a salary of about €400,000 a year.

They receive the equivalent of 25 per cent of their salaries in an annual pension payment and €30,000 each a year in allowances. The four foreign executives have also received allowances to run homes overseas but these have run out or will end imminently, IBRC said.

Mr Woodhouse is IBRC’s representative in its litigation against Seán Quinn and family.

The head of IBRC’s UK operations, Jim Brydie, is on a salary of £400,000 (€501,000).

IBRC chairman Alan Dukes last week said it had to pay market rates for skilled staff to ensure the bank was wound down at the least cost and with maximum benefit to the State.