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24/03/2009
Nationwide Directors Get Visit From Lenihan
The Finance Minister has landed on the door step of the two State-appointed directors at Irish Nationwide, after a series of revelations over directors pay.
Brian Lenihan is to brief the cabinet today on the meeting, which took place after it emerged an ex-chief executive had taken home a €1 million bonus after the banks' recapitalisation, while his replacement refused the position because the job's salary was capped to €360,000 a year.
The former top executive, Michael Fingleton caused outrage after revelations were made he had taken a €1 million bonus despite the complete failure of the bank, which cost the tax payer billions in bailing out the banks' mistakes.
Tánaiste Mary Coughlan said Michael Fingleton's actions created not just a level of concern, but also a level of annoyance, and said he should pay back his €1m bonus.
Even further scandal erupted from the bank today as news broke the Fingleton's replacement, Danny Kitchen, had turned down his appointment after the Government introduced a salary cap of €360,000.
Newly published guidelines for chief executive pay at banks and building societies covered by the Government's guarantee, capped what Irish Nationwide could offer at €360,000, leading the replacement to change his mind.
The Minister for Foreign Affairs Michael Martin said last night on RTÉ's Question & Answers programme that the banking and financial world needs to get a grip on reality.
He said: "People on €20,000 andd €30,000 have had to endure income reductions, people have lost their jobs, and meanwhile people are saying in banks they can't work for half a million or they can't work for €400,000....and that just needs to change".
(DW/BMcC)
Brian Lenihan is to brief the cabinet today on the meeting, which took place after it emerged an ex-chief executive had taken home a €1 million bonus after the banks' recapitalisation, while his replacement refused the position because the job's salary was capped to €360,000 a year.
The former top executive, Michael Fingleton caused outrage after revelations were made he had taken a €1 million bonus despite the complete failure of the bank, which cost the tax payer billions in bailing out the banks' mistakes.
Tánaiste Mary Coughlan said Michael Fingleton's actions created not just a level of concern, but also a level of annoyance, and said he should pay back his €1m bonus.
Even further scandal erupted from the bank today as news broke the Fingleton's replacement, Danny Kitchen, had turned down his appointment after the Government introduced a salary cap of €360,000.
Newly published guidelines for chief executive pay at banks and building societies covered by the Government's guarantee, capped what Irish Nationwide could offer at €360,000, leading the replacement to change his mind.
The Minister for Foreign Affairs Michael Martin said last night on RTÉ's Question & Answers programme that the banking and financial world needs to get a grip on reality.
He said: "People on €20,000 andd €30,000 have had to endure income reductions, people have lost their jobs, and meanwhile people are saying in banks they can't work for half a million or they can't work for €400,000....and that just needs to change".
(DW/BMcC)
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02 November 2018
Time For Govt To Act On Gender Pay Gap
Marking EU Equal Pay Day 2018, Labour has said that it is time for the Government to act on the Gender Pay Gap in Ireland. Last month, the Seanad passed all stages of the Irish Human Rights and Equality Commission (Gender Pay Gap) Information Bill 2017, a Private Members Bill initiated by the Labour group in the Seanad.
Time For Govt To Act On Gender Pay Gap
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20 July 2015
Ibec Slams Proposals By The Low Pay Commission
Ibec has slammed plans by the Low Pay Commission for a 50c increase in the national minimum wage. The group, which represents Irish business, said the case is at odds with all the economic evidence. It also said the increase would heap pressure on companies still struggling to stay in business.
Ibec Slams Proposals By The Low Pay Commission
Ibec has slammed plans by the Low Pay Commission for a 50c increase in the national minimum wage. The group, which represents Irish business, said the case is at odds with all the economic evidence. It also said the increase would heap pressure on companies still struggling to stay in business.
19 August 2010
Fingleton Apologies 'Not Good Enough' Says Labour
Former Irish Nationwide chief Michael Fingleton has issued an unprecedented apology for his bank's role in the Irish banking crisis, but his lament has been rejected by a senior Labour TD.
Fingleton Apologies 'Not Good Enough' Says Labour
Former Irish Nationwide chief Michael Fingleton has issued an unprecedented apology for his bank's role in the Irish banking crisis, but his lament has been rejected by a senior Labour TD.
22 April 2010
Cowen Supports Fingleton Bonus Recovery
Taoiseach Brian Cowen has given his support to the recovery of the €1 million bonus paid to the former Irish Nationwide boss Michael Fingleton. Speaking in the Daíl, Mr Cowen again defended his handling of financial regulation, saying everything that could be done would be done to recover the highly controversial €1m bonus.
Cowen Supports Fingleton Bonus Recovery
Taoiseach Brian Cowen has given his support to the recovery of the €1 million bonus paid to the former Irish Nationwide boss Michael Fingleton. Speaking in the Daíl, Mr Cowen again defended his handling of financial regulation, saying everything that could be done would be done to recover the highly controversial €1m bonus.
10 May 2012
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
New Name For Northern Bank
Danske Bank has announced a new organisational set-up for its operations in Northern Ireland and Ireland. The new structure will take effect on 1 June 2012. The re-organisation mirrors a similar Group wide set-up being introduced in all Danske Bank operations.
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Ireland WeatherToday:A cloudy morning with a few showers at times. Becoming dry in the afternoon and staying mainly cloudy, but some sunshine breaking through particularly in the east. Maximum temperature 16 °C.Tonight:Quite cloudy across all counties at first but clear spells most likely towards Down and Antrim, becoming widespread through the evening and overnight. Minimum temperature 5 °C.
