Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context

Question 127: To ask the Minister for Finance in view of the comments made by the Taoiseach during leaders questions in Dáil Éireann on 20 April 2011 regarding the severance payout to former Allied Irish Bank Chief Executive Officer Colm Doherty, if he has received a report on the contractual arrangements that apply in relation to severance payments for other senior banking executives; if so, if he will provide details of its contents [27135/11]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context

Question 191: To ask the Minister for Finance when the review into remuneration and severance arrangements in place at the covered institutions commenced; the terms of reference of this review; the person who is conducting this review; when he expects this review to be completed; and if he will commit to publishing it. [27578/11]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

I propose to take Questions Nos. 127 and 191 together.

I have explained to the Deputy in my reply to his questions of 22 September 2011 (Refs. 25523/11 & 25550/11) the current position on the remuneration review and severance arrangements.

The object of the review, which is presently being conducted by my Department, is to thoroughly review all remuneration practices at the covered institutions with the object of simplifying remuneration and compensation structures, discouraging excessive risk-taking and to better align pay and reward to long term value creation.

The review is an iterative one with data being received and analysed with a view to producing comparable data across the institutions. I fully recognise that there is a real public interest in the levels of remuneration at the covered institutions and I will endeavour to have this completed in the shortest timeframe possible with a view to putting the information into the public domain.