Ex-BoI chief’s package topped €3m

ALTHOUGH his basic salary was cut, former Bank of Ireland chief executive Brian Goggin, who resigned from the company in February, still saw his overall remuneration package rise during the bank’s last financial year.

According to Bank of Ireland’s latest annual report for the 12 months to the end of March – a year which saw the company record a €7m pre-tax loss – Mr Goggin’s basic salary totalled just under €1.2m, but his overall remuneration package topped the €3m mark due to a €1.46m payment in lieu of him leaving a year earlier than planned.

Mr Goggin said, earlier this year, that he was likely to see his remuneration package for the financial year just completed drop below €2m. Only a couple of years ago his total annual package nudged the €4m mark.

Elsewhere, new chief executive Richie Boucher was paid a total of €1.06m last year. Outgoing governor, Richard Burrows – who is due to leave his post next month – received some €503,000; slightly down on the previous year.

Total pay for Bank of Ireland executives has been cut by 10% (as of the year just completed), with no annual performance-related bonus being paid this year or next.