State signed off on banker’s €500k pay

The Government has come under pressure to further reduce bankers’ salaries after it emerged that the finance minister recently signed off on a half a million euro pay package for a risk officer at the former Anglo Irish Bank.

The Department of Finance last night confirmed that Michael Noonan had recently agreed to a €500,000 pay package for Kevin Blake, the new chief risk officer at the Irish Bank Resolution Corporation (IBRC).

Mr Blake’s appointment brings to seven the number of senior executives at the bailed out bank who are on pay packages exceeding €500,000. The new risk officer begins his job at the bank today.