Banker may net €27m pay-off
Published 03/10/2010 | 05:00
Michael Geoghegan (above), the Irishman who ran HSBC Bank, could bag a near €27m pay-off as he leaves the bank after a boardroom wrangle.
Geoghegan, whose father was a UCD professor from Co Tipperary, is stepping down as chief executive of the €140bn bank, which sponsored the Lions on the ill-fated tour to South Africa last year.
He could pick up nearly €27m as a parting pay-off through a combination of salary, bonus and long-term share awards, though these are conditional on the bank performing well.
Geoghegan gave his near €5m bonus for 2009 to charity last year.