Joan Burton (Dublin West, Labour) | Oireachtas source

The CEO of AIB, Bernard Byrne, will be leaving the bank to join the Davy Group. There is, as the Taoiseach knows, a cap on pay, bonuses, remuneration and benefits of €500,000 per annum for senior staff in State-owned banks. I understand external consultants from consultancy firm Korn Ferry are being paid over €140,000 to compile a report on whether the cap should be lifted. We can all guess what they will recommend but I think members of the public would be very shocked and surprised to hear that people from the bailed out banks should be paid more than €500,000 a year, given the initial bailout total was around the €65 billion mark.

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