Thursday 17 August 2017

Tom Molloy: Bank reform must be more than a bonus

Tom Molloy

THERE is some good news and some bad news buried in the recent disclosures about the bonus culture at our banks.

The good news is that most of the bonuses relate to two years ago when the full extent of the banks' problems were not understood. They also appear to have been paid to a relatively small number of people who work in the capital markets division of Allied Irish Banks.

Even former AIB managing director Colm Doherty's fiercest critics accept he ran the capital markets division reasonably well and didn't make the sort of stupid and reckless decisions made by his colleagues in other parts of the bank.

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