No golden handshake for AIB boss

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.

However, the 52-year-old bank executive is unlikely to suffer financial hardship as he will walk away from his €500,000 a year job with a substantial pension.

Mr Doherty’s annual salary in the final year of his short-lived reign was also the least lucrative for the former head of AIB’s capital markets division as he was forced to capitulate to Government pressure to impose a cap of €500,000 on the salary of leading bankers.