Spring: Doherty best candidate for AIB job

AIB's Public Interest Director Dick Spring has said Colm Doherty emerged as the best candidate for

AIB's Public Interest Director Dick Spring has said Colm Doherty emerged as the best candidate for

the bank's top job after an exhaustive, comprehensive and independently assessed search.

Mr Doherty, formerly head of AIB Capital Markets, was today appointed as AIB managing director.

His appointment to the role had sparked controversy as it emerged that AIB had requested he be permitted to retain his previous salary of €633,000, breaching the €500,00 salary cap imposed by the Government as part of its bank bailout scheme.

However the bank today confirmed the renumeration for his new role would be in line with the maximum salary rule.

In a statement this evening, Mr. Spring said he could absolutely guarantee that AIB was fully committed to finding the best person to lead the organisation.

Outgoing AIB chief executive Eugene Sheehy – paid €2.1m in 2007 and €1.15m in 2008 – is to retire on November 30 with the top banking position changed to group managing director.

Opposition parties had today criticised the appointment of the AIB executive, saying the "old guard" was still in place.

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