More than 160 retired bankers are receiving pensions above €100,000 from bailed-out institutions.

THE disclosure that six members of staff at the former Anglo Irish Bank are on packages of €500k-plus could not come at a worse time for the Government or IBRC.

It is believed that Bank of Ireland will not be following AIB’s lead and writing to former executives asking them to surrender part of their pensions.

The Government is permitting “one rule for the rich and another for the rest” by rubber-stamping “extremely generous compensation packages” for former bosses, the country’s main banking union has claimed.

AIB is asking it's former directors to consider taking a voluntary cut to their pensions.

Shedding 2,000 jobs, restoring shaken morale, changing a disastrous culture and rebuilding the bank’s battered business are just some of the difficulties incoming AIB chief executive David Duffy will have to overcome, reports Kyran Fitzgerald

AIB HAS formally named David Duffy as its chief executive, confirming media speculation.

The new chief executive of bailed-out Allied Irish Banks (AIB) will earn the Government cap of half a million euro a year.

DAVID Duffy looks set to be named chief executive at AIB in the next week or so with speculation mounting over the weekend that the Government will ratify his appointment later this week.

A CAP of €500,000 on bankers pay should be scrapped and lifted so banks can attract fresh talent and new leadership, according to Financial Regulator Matthew Elderfield.

The Taoiseach Enda Kenny has told the Dáil there has been no request to raise the €500,000 ceiling on bankers pay.

Government Chief Whip Paul Kehoe has said that the Finance Minister would think long and hard before allowing a bank to breach the salary cap for their chief executives.

The head of a group representing bank workers said today that it "beggars belief" that AIB could look at offering their new chief executive more than the Government-imposed salary cap.

A senior official at AIB is hinting they could have to breach the Government imposed salary cap in the hunt for a new chief executive.

AIB does not have a chief executive, yet last night announced the blueprint for its new banking structure that reduces its two coredivisions serving Ireland and Britain.

AIB is to reorganise itself into a single business in what the bank called the most challenging change programme it has ever undertaken.

STATE-controlled banks should be prepared to cut excessive severance packages for senior management even if it results in legal challenges, a Government minister has said.

With distrust in our politicians soaring and semi-state and banking chiefs earning huge sums, it’s crucial for Taoiseach Enda Kenny to deliver on his pledge to restore our the public’s faith in them.

AIB last night published its group annual financial report for 2010 which confirmed it made a loss after tax of €10.4bn on continuing operations.

AIB last night published its group annual financial report for 2010 which confirmed it made a loss after tax of €10.4 billion on continuing operations.

By allowing its leader to throw around words such as ‘terrorism’ in the Dáil, Sinn Féin is doing itself no favours, while the Government has promised actions not words, says Political Editor Paul O’Brien.

MINISTER of State Brian Hayes claims the payment of €3 million to Colm Doherty ‘is a legacy issue … and you can’t undo something that’s already been put in place’.

A BANK by any other name...

THE fallout from a €3 million golden goodbye to AIB’s former boss has continued with Enda Kenny admitting other top bankers may walk away with generous severance packages.

The public interest directors at AIB who approved the €3m golden handshake to former boss Colm Doherty have been branded "dummies" this evening.

Justice Minister Alan Shatter has said senior bankers could be in breach of their contracts because the organisations they work for have effectively been put into liquidation.

The Government has promised to find out how many senior bankers could walk away with golden handshakes from the taxpayer.

KEY players in the banking crisis could be hauled before a televised public inquiry after a report on the issue failed to pin the blame on any bankers or politicians for the “financial mania” that gripped the country.

TAOISEACH Enda Kenny has been accused of letting Allied Irish Bank’s former boss walk off into the sunset with a €3 million golden handshake.

IMAGINE if you are a public sector worker trying to support a family and maybe give your children a good education on something around €35,000 a year.

AIB’s decision to give ousted managing director Colm Doherty more than €3 million just to quit, at a time when the bank had received €20.5 billion in taxpayer bailouts, has been described as a “hammer blow” to reform.

A new report on the causes of the banking crisis says the main reason for the financial crash was the unhindered expansion of the property bubble financed by the banks.

More senior executives at bailed-out banks are in line for controversial multimillion-euro severance packages.

Staff in AIB and other domestic banks are shocked and angry that the former Chief Executive of AIB received total payments of more than €3m last year on his premature departure from the bank.

Former Minister for Finance Brian Lenihan has today said that he prevented former AIB managing director Colm Doherty receiving more than his estimated €3m payout.

Junior Minister at the Department of Finance Brian Hayes said today that the awarding of a €3m golden handshake to a former AIB managing director cannot be "undone".

It has emerged that a former managing director at AIB was given a pay package of more than €3m last year.

A NEW chief executive should be in place at AIB within the next two to three months, the bank claimed yesterday.

FINANCE Minister Brian Lenihan is to take a vice-like grip on Irish banks when the Credit Institutions (Stabilisation) Bill is passed into law.

New AIB Executive Chairman David Hodgkinson has told shareholders the problems facing the bank are difficult but they can be overcome.

OFFICIALLY, the outgoing managing director of AIB Colm Doherty will not be entitled to any “golden handshake” after this week’s announcement of his resignation as head of the country’s largest bank.

AIB’s two leading executives are to quit their posts.

Two of Allied Irish Banks’ leading executives have been forced out after the Government effectively took control of the group, it was announced today.

Shares in AIB plummeted 17c to €0.38 in early trading on the ISEQ this morning, a drop of 31.16%, as traders responded to the news that the bank required a further injection of €3bn in taxpayer funds.