AIB’s new boss to face pay demands

AIB faces mounting pay demands from its staff and a headache over shaping long-term incentives for its senior bosses as the Government prepares the bank for sale next year, experts have said.

The bank confirmed yesterday it had appointed Bernard Byrne as its new chief executive. Mr Byrne, 47, joined the bank five years ago from ESB, as the Government prepares to nationalise the lender.

He is currently AIB’s director of retail and business banking.