Bank boss paid €623,000

BANK of Ireland chief executive Richie Boucher was paid €623,000 last year after waiving €67,000 of his salary which would have brought his gross pay to €690,000.

Because of pension complications after he became chief executive, he was forced to forego a €1 million-plus top-up to his retirement plan which would have seen him retire on full pension at the age of 55.

Mr Boucher said his remuneration package complied with the regulations put in place since the Government was forced into the costly bank bailout that is currently running at €70bn.