Dáil Éireann Debate, Wednesday - 6 May 2015
146. Deputy Paul Murphy asked the Minister for Finance in view of the €1.67 million remuneration package to the chief executive officer of Ulster Bank, if he will introduce caps on the remuneration of chief executive officers of all banks or other such measures; and if he will make a statement on the matter. [17588/15]
Amharc ar fhreagraAs the Deputy will be aware Ulster Bank was never part of the State's bank guarantee schemes (CIFS and ELG) and never received any recapitalisation funds from the Irish taxpayer. As such I have no control over the remuneration package awarded to the CEO of Ulster Bank or indeed any other foreign owned bank operating in the State.
Remuneration of the remaining three Irish domestic banks - Bank of Ireland, PTSB and AIB - is restricted by Government policy with the maximum payment permitted amounting to €500,000 excluding a standard pension contribution.
