New AIB C/E on 500K

jimmynokia

500k IS this too much? Considering we bailed out the banks and they can still pay this kind of money.

AIB HAS ANNOUNCED David Duffy, the former head of Standard Bank International, is to be its new chief executive.
Duffy will take up the job in December.
In a statement, the bank said that his remuneration package will be “in line with Government guidelines,” which means a pay cap of €500,000. AIB is owned almost entirely by the Irish State.
Minister for Finance Michael Noonan has welcomed the appointment as Duffy, noting that the government had wanted to recruit a CEO “of the highest calibre so as to yield the best possible return to the taxpayer”.
Duffy (50) has held a number of senior roles in the international banking industry. Prior to becoming CEO of Standard Bank in London in 2006, he worked for almost a decade in ING Barings.
From 1987 until 1997 he worked for Goldman Sachs in Europe.
Duffy attended Terenure College in Dublin and is a graduate of Trinity College Dublin from which he received a Bachelor of Business Studies in 1984.

BuffyBot

As Bank CEO's are neither a product or service and as such fall outside the remit of the forum I'll close this. You might want to take the discussion to a more appropriate forum.