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AIB has approached government about bonus scheme for executives - report

Bloomberg says AIB has approached the government about setting up a bonus scheme for top executiv...
Newstalk
Newstalk

11.03 28 Jan 2014


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AIB has approached government...

AIB has approached government about bonus scheme for executives - report

Newstalk
Newstalk

11.03 28 Jan 2014


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Bloomberg says AIB has approached the government about setting up a bonus scheme for top executives.

It says the bank - which needed a €21 billion bailout from taxpayers - wants to set up the incentive scheme before the government starts selling the lender.

Salaries were capped and bonuses banned at AIB following the bailout.

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Bloomberg says both AIB and the Department of Finance have declined to comment.

Newstalk understands discussions are at an exploratory stage, and any plan to award AIB management incentives would depend on the bank returning to profitability.

CEO David Duffy plans to return the bank to profit this year for the first time since 2009.

Finance Minister Michael Noonan has said the government may sell a stake in the bank before the next scheduled election in 2016.

The bank has replaced its entire board and most of its senior executives since its initial bailout.


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