Enda Kenny says bank pay caps are a constraint

Taoiseach Enda Kenny said Government-imposed banker pay caps are a “constraint” as the chief executive officer of state-owned AIB prepares to leave for a job in the UK.

David Duffy said this week that he is resigning from AIB, based in Dublin, to take over as chief executive of National Australia Bank Ltd’s Glasgow-based Clydesdale Bank.

“Wage caps are a constraint and obviously coming from where we’ve come from, that’s been a difficulty,” Mr Kenny said in an interview at the World Economic Forum in Davos.