IBOA: Pay call for new AIB boss 'beggars belief'

The head of a group representing bank workers said today that it "beggars belief" that AIB could look at offering their new chief executive more than the Government-imposed salary cap.

The comment from the Irish Bank Officials Association (IBOA) comes after bank's executive chairman David Hodgkinson has been speaking of the difficulties in recruiting a quality candidate, who would not be paid the going international rate.

He has hinted that they may have to breach the €500,000 limit, when they find someone to replace Colm Doherty.

IBOA general secretary Larry Broderick said that he cannot understand why such a salary level is necessary.

"I just genuinely feel that the focus is all wrong," said Mr Broderick

"Who is this person that we need to lead the bank into a restructuring? As I said yesterday, Mr Hodgkinson, who’s doing a capable job engaging with us, has appointed a new management team to restructure the bank, and why can’t the people that are charged with that responsibility do that, or somebody else?

"I’m sure that you’ll get somebody, to be quite honest, if you advertise, to do the job for €500,000."