Saturday 24 June 2017

The AIB boss and his €5,200 wristwatch

AIB chief executive David Duffy
AIB chief executive David Duffy
Nick Webb

Nick Webb

Smooth AIB boss David Duffy isn't running the State-owned bank for the money – even though there's a pay cheque of €489,00 per year.

Duffy has plenty of dough. Even more if he can sell his west Cork home, which is on offer with Sherry Fitzgerald for €3.7m.

At last week's AGM in Bankcentre, he was sporting some bling, that looked for all the world like one of those uber smart €5,200 Breitling Professional Emergency watches. The latest version comes with a satellite emergency beacon and will set you back a cool €15,000.

Duffy's wrist decoration was better than that of his chairman, David Hodgkinson, who seems to have a natty Tag Heuer Formula 1 Chronograph for telling the time.

This ticker retails for more than €1,200. But then he only gets paid €275,000 for his part-time job at the bank. When he wasn't gazing at his beautiful timepiece, Duffy has been pushing hard to fix up the bank's bonkers capital structure, which will make it easier to sell a stake in the bank to investors. As long as Ulster Bank hasn't got there first.

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