Irish

Thursday 24 July 2014

Bank of Ireland pays directors €2.77m in salaries and fees

Donal O'Donovan

Published 11/03/2014|02:30

  • Share
Bank of Ireland chief executive Richie Boucher will reveal earnings on Monday. Photo: Mark Condren
Bank of Ireland chief executive Richie Boucher

BANK of Ireland paid its directors €2.77m in total last year, made up of salaries, fees, car and pension contributions.

  • Share
  • Go To

Richie Boucher's total pay package of €843,000 is unchanged from 2012, according to the bank's annual report published yesterday.

The bank chief executive's basic pay of €690,000 was topped up by pension contributions worth €186,000 and car and other benefits totalling €34,000. In keeping with recent years Mr Boucher waived €67,000 of his potential pay.

Unlike the heads of the other banks that received taxpayer bailouts, Mr Boucher's pay has never been subject to the Government's notional €500,000 cap on salaries because it was negotiated back in 2009 – before the limit was introduced.

Bank of Ireland's group chief financial officer Andrew Keating, who was appointed in 2012, has an annual salary of €390,000, and with benefits and pension his total pay was €456,000.

The highest-paid non executives at the bank last year were chairman Archie Kane, who was paid €490,000, and deputy chairman Patrick O'Sullivan, who received €126,000.

US billionaire Wilbur Ross picked up €63,000 in director fees for sitting on the board – or court as it is known – of Bank of Ireland.

Canadian investor Prem Watsa received €35,000 though he stepped down in July.

Irish Independent

Read More

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Editors Choice

Also in Business