Dáil Éireann Debate, Thursday - 15 November 2012
21. Deputy Pádraig Mac Lochlainn asked the Minister for Finance in view of the fact that 30 persons in Irish Bank Resolution Corporation earn more than €300,000, the collective payment in base salary for the highest paid 30 employees as of end of 2010, 2011, 2012, 2013 and the number in 2011 and 2012 who have seen an increase in base salary, pension and expenses; and if he will itemise same. [50514/12]
Amharc ar fhreagraI have been advised that there are currently 7, and not 30, employees of IBRC whose base salaries are above €300,000 per annum. The total of the highest 30 base salaries from end 2008 to 2012 is outlined in the following table
|
2008 |
2009 |
2010 |
2011 |
2012 |
|
€10,279,397.88 |
€7,845,471.13 |
€8,875,847.91 |
€8,801,292.68 |
€8,160,352.94 |
From 2008 to 2012 there has been a 21% reduction in the collective 30 highest base salaries in the Bank. In more detail there has been:
- A decrease of 23% from 2008 to 2009 following the departure of former Anglo Irish Bank senior management.
- An increase in 2010 in line with the process of recruiting a new Group Executive team.
- Further reductions since 2010 as the organisation structure is further rationalised.
I have been advised that during the two years in question, a small number of employees have received an increase in remuneration in line with increased responsibilities following the Bank’s staffing rationalisation.
The responsibilities of the Board, management and staff of IBRC are onerous and the experience and skills required to manage the wind down and mitigate the cost to the State are critical to achieve an appropriate outcome.
