€3.9m pay-off for Anglo Irish executive

TIARNAN O'MAHONEY walked away from Anglo Irish Bank with a near €4 million pay-off.

Mr O'Mahoney, who was the bank's chief operating officer, retired a year ago after failing to secure the chief executive's post.

The bank's annual report for 2005 reveals that Mr O'Mahoney was paid €3.65m when he left. Anglo Irish also topped up his personal pension fund to the tune of €250,000.