AIB boss calls for new 'pay tsar'

The executive chairman of AIB has called on the Government to appoint a pay tsar to set bankers' wages.

David Hodgkinson has also warned bank customers that higher charges are on the way, to make lending more sustainable for banks.

Speaking at the MacGill Summer School in Glenties, he said that banks will struggle to get qualified people to run their institutions if the pay cap of €500,000 remains in place.

He urged the government to appoint an independent assessor - or 'pay tsar' - to set bankers wages.