The Minister for Finance, Mr. Michael Noonan T.D. today has ruled out reintroducing bonuses for top bankers until performance improves. AIB is said to have approached the Government to request the creation of an incentive plan to retain top executives before it starts selling the lender.
“The answer is sorry guys, much better performance required before we’ll even consider” bonuses, Mr Noonan told Bloomberg today. “If any executive wants to leave AIB, I’ll shake his hand and wish him fair passage as he leaves.”
“While we’re holding 99 per cent of AIB, there’s no point in having those discussions with me,” Mr Noonan said. “It makes no sense, and it’s not a demand that I’m prepared to deal with.”
The number one priority for AIB is to get itself off the backs of the Irish public after it was foisted on them when it collapsed,” said Ciaran Lynch, a Labour TD and chairman of the Oireachtas finance committee.