Governor ‘would approve’ big salaries for bank chiefs

THE governor of the Central Bank, Patrick Honohan, has indicated he is willing to approve high salaries for bank bosses, putting him on a collision course with Finance Minister Brian Lenihan.

Last night, Mr Honohan told the Financial Services Ireland annual dinner in Dublin that he is willing to condone the payment of big pay packets “in some instances” for those filling key financial positions in Ireland.

“It is because, when it comes to certain key individuals with hard-to-find experience, skills and reputation, we have to be realistic price-takers and acknowledge the opportunities these individuals have in a competitive world market which still rewards these attributes very well.”