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Anglo €200k pay slammed by Dail

BANKS

Published 11/10/2011 | 05:00

FIANNA Fail finance spokesman Michael McGrath has lashed out at the "unacceptably generous" salaries paid by Anglo Irish Bank after it emerged 32 executives at the bailed-out institution are earning more than €200,000 a year.

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The Anglo salaries were revealed to the Oireachtas Finance Committee in recent days. Mr McGrath last night said the committee did not have similar information for the other bailed-out banks, but that he would "absolutely" seek it.

The €200,000-plus salaries means that 32 Anglo Irish bankers are being paid a basic salary above the Taoiseach, up from the 18 executives who out-earned the Taoiseach in 2010.

Sources said the latest Anglo figures also encompassed staff from Irish Nationwide, which merged with Anglo in July, while the Taoiseach's salary has fallen from €228,000 to €200,000 in the intervening period.

The Taoiseach, however, gets a generous pension package, whereas Anglo executives are on defined-benefit pension only.

It is understood some pay rises at Anglo have been made to keep key staff, or where staff have been promoted internally to replace departing executives.

Irish Independent

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