AIB chief executive’s remuneration rises to €587,000

AIB paid its chief executive Bernard Byrne €587,000 in total remuneration last year, an increase of 3 per cent on 2014.

His basic salary increased to €479,000 from €450,000 in the previous year following his elevation to the top job in the middle of 2015.

The balance of his remuneration comprised €12,000 in annual taxable benefits and €96,000 in a pension payment.

His predecessor David Duffy, who left AIB to lead Clydesdale Bank in Scotland, received €207,000 for his five months with the bank last year.

Mr Duffy had been paid €489,000 in 2014, including a basic salary of €425,000.

Details of executive pay were included in AIB’s annual report for 2015, published today.

It shows that chief financial officer Mark Bourke received €570,000 in total remuneration compared with €337,000 in 2014, when he served just more than seven months with the company. His basic salary last year was €450,000.

AIB chairman Richard Pym, who was appointed in October 2014, received €365,000 in fees for last year.

In total, AIB paid its executives and board members just under €2.7 million last year, down from just under €2.9 million in 2014.

The bank is 99.8 per cent owned by the State and adheres to the Government’s €500,000 cap on executive salaries.