Minister heeds FSU advice and rules out top executive share bonus plan

The Financial Services Union welcomes the announcement that the Minister for Finance will vote against the proposed share bonus scheme for top AIB executives.  The proposal was floated in public by AIB  at the beginning of March and the Union made its opposite clear immediately.

The Financial Services Union wrote to Minister Donohue in no uncertain terms outlining our objection in terms of fairness, social solidarity and the need to reform the culture of banking.

Interestingly, a consultant will now be appointed to report on renumeration in banks. The Financial Services Union will be strongly making the case that any review has to look at pay of all banking staff, especially those on low to middle incomes or on short-term contracts - not the well heeled at the very top!