Kenny may lift AIB chief pay cap

A GOVERNMENT pay cap of €500,000 for AIB’s new chief executive could be broken with Taoiseach Enda Kenny admitting he may sanction the salary in an exceptional case.

Mr Kenny failed to rule out agreeing to a higher salary for the troubled bank’s new chief executive, who has yet to be chosen by the now State-owned bank.

Sources with AIB also admitted last night that officials have held discussions with the Government about lifting the pay cap for any new bank chief.