Irish Bank Officials’ Association puts top bankers’ pay on agenda

The head of the Irish Bank Officials’ Association — the IBOA — has put the issue of top bankers’ pay back on the agenda demanding that the Government retain its cap on chief executives’ pay and introduce new limits for share incentives as it sells down its stakes in the banks.

It comes as the IBOA — which represents 15,000 finance staff across Ireland, which compares with a peak of 23,000 on the eve of the crash — is due to complete pay negotiations with Bank of Ireland this week and with Ulster Bank next week.

General secretary Larry Broderick told the Irish Examiner there was growing concern that chief executives at State-owned banks would again top excessive amounts in pay and in share-based incentives as the Government starts to sell down shares later this year.