Soden gets €2.7m settlement

Former Bank of Ireland chief executive Mike Soden has been paid €2.7 million in settlement for the loss of his job at the bank. Mr Soden resigned after it emerged he accessed a Las Vegas escort internet site.

Details of his package, which includes a contribution of €400,000 to his pension fund, were leaked to the media several weeks ago.

The bank, in its annual report, said the payment was “in settlement of potential litigation by Mr Soden against the group“.

As well as the severance package, Mr Soden who resigned in May, last year, got a total remuneration package of €269,000, bringing his total exit package close to €3m.