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Third of Anglo's bosses still there on huge salaries

ALMOST a third of the most senior Anglo bosses that oversaw the bank's catastrophic bailout are still at the company -- and earning lucrative six-figure salaries.

Figures seen by the Herald lay bare the serious difficulty the Government is facing in overhauling our toxic banking system.

Some 16 of the most senior 50 Anglo employees -- who many hold partly responsible for the country's economic woes -- have not left the company.

The Herald understands that all 16 are still on lucrative six-figure salaries, some earning around €200,000.


The number was revealed in the Dail this week by Finance Minister Michael Noonan.

The revelation was slammed by Fianna Fail finance spokesperson Michael McGrath, who said no senior individual involved in the banking collapse should still remain at Anglo, now known as the Irish Bank Resolution Corporation (IBRC).

He told the Herald: "The public feel let down by those at the top in banks like Anglo. Any person who held a senior role in the bank's crash, that has crippled the country should not still be in that position.

"It is grossly unacceptable to have almost a third of those bosses still there," he added.

Senior Coalition sources told the Herald that there exists "extreme concern" over the seemingly slow pace in which Finance Minister Michael Noonan is implementing his much-heralded banking reforms.

"It isn't as simple as perhaps some people in Government thought," a source told the Herald.

Meanwhile, the Herald can also reveal today that 24 employees at bailed-out AIB are taking home salaries greater than €250,000. For the first time, Mr Noonan has released the salaries of the bank's top brass.

We can also reveal that three officials at AIB are on packages worth around €500,000.

In a written response to a question by Fianna Fail's Eamon O Cuiv, Mr Noonan gave no indication that he would be reducing salaries at the bank.


"While I accept the deputy's premise that a salary of €250,000 is a considerable amount of money to pay an individual, I do not accept, for a variety of reasons, that the pay ceilings introduced for CEOs of semi-states and senior public sector posts should apply at the bank at this time.

"The bank, which is one of the two universal pillar banks in the Irish financial system, continues to operate as a separate economic unit with independent powers of decision and functions independently from me as minister in relation to its day-to-day operations."