Lenihan fights for respect in AIB standoff

BRIAN LENIHAN was fighting for his political credibility last night as he took on AIB in an explosive battle over top bankers’ pay.

The minister’s move to stamp down on the bank’s bid to breach the €500,000 cap on senior salaries forced a tense stand-off with the country’s biggest financial institution as the Government pledged to win the first major post-bailout battle of wills.

AIB’s attempt to get the Finance Minister to approve its senior executive Colm Doherty moving into the managing director’s post while keeping his current €633,000 salary provoked widespread anger and led to stormy scenes at Cabinet.