Bank of Ireland CEO departure a reminder of pay cap limitations

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Cantillon: Francesca McDonagh joins Credit Suisse as bankers look to change pay rules via IrishTimesBiz

chief executive Francesca McDonagh. Noting the lender had prospered under her watch over the past five years, he said she had been “instrumental in driving a change in culture within the bank”, seeing through a badly needed IT transformation programme and also “playing a key role in helping customers and the country navigate their way through the recent Covid-19 crisis”.

He could also have mentioned that her stewardship had allowed the State to net more than half a billion euro since last June selling down its stake in the bank from 13.9 per cent to less than 5 per cent now.Inc has got back on its €4.7 billion bailout of Bank of Ireland.

 

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