Shane Ross: No bonus for B of I governor
Published 15/07/2012 | 05:00
Richie Boucher has a new boss at Bank of Ireland. That should soften his cough.
The €690,000-a-year survivor of the B of I's disgrace must be shaking in his shoes. An outsider has been appointed to change the culture. Boucher, a survivor of the ancien regime of high salaries, juicy options and dodgy behaviour, will need to smarten up his act.
Worse still for Boucher, the external invader comes from Scotland. There will be no tolerance of the old extravagance, the days of overcharging customers will be over. The benign vigilance of Governor Pat Molloy, the house-trained B of I lifer, is ended. The laissez-faire reign of deposed Governor Richard Burrows is a distant memory. Instead, a thrifty Scot, an independent governor -- a man seemingly without baggage, -- has finally arrived.