Ulster Bank chief forced to give up any bonus

Ulster Bank’s chief executive has effectively been forced to give up any potential bonus this year, in a bid to stop a growing PR disaster for the IT-crash firm.

Just hours after creating more public anger by refusing to reveal his salary to the Oireachtas Finance Committee and claiming he was still entitled to a bonus, Jim Brown said the payment was no longer an issue.

Moments after confirming the problems at the bank are affecting at least 600,000 customers in the Republic alone — six times higher than previously stated — the New Zealander told politicians that, in his opinion, he is right to still consider a bonus for work this year.

“Bonuses are reviewed ... and are based on a whole bunch of different factors. If I’m entitled to a bonus I’ll make that call at the time. I wouldn’t exclude the possibility either way,” he said.

However, within hours, and as the reality of another crisis for the under-fire firm began to sink in, Mr Brown had an apparent Road to Damascus moment.

“I am personally committed to re-earning the trust of our customers. I have therefore informed the Ulster Bank board that I do not wish to be considered for an annual bonus award for 2012,” a statement read.

However, the move, which comes a week after Mr Brown’s boss, RBS Group CEO Stephen Hester, ruled out a bonus, may not have the desired effect.

Sinn Féin finance spokesman Pearse Doherty last night called for Mr Brown to resign over the computer crash debacle.

The first bonus statement had earlier come under fire from Independent TD Shane Ross who was told Mr Brown’s salary was “private information”.

“You are going to take a bonus this year, but you’re going to get through this meeting first,” Mr Ross snapped back.

The remarks were made on the 17th day of the computer crisis which could last until mid-July, and as he insisted his firm is putting the needs of customers first.

The issue was not helped yesterday when Ulster Bank could not confirm the last time its IT back-up system was given a health check.

In response to further failures to provide full answers, committee chairman and Labour TD Alex White echoed concerns voiced over previous banking crises. “The net question is you don’t know what happened on the night [of the crash].”