The richies are different….

So Richie Boucher, the CEO of Bank of Ireland, is on a salary and benefits package of over 800k.  The BoI AGM is on today, and the Irish taxpayer owns 15% of BoI.   The minister for finance has declined to vote to reduce this package (and that of the part time chairman…). At the same time the other minister for finance Brendan Howlin, has more or less decided to ignore the vote of public sector and will (despite having said he will get the labour relations commission to investigate how to ) impose or assume the pay cuts voted down.

This softly softly approach to Bank of Ireland contrasts massively with the hectoring bullying approach being taken to the public sector. While BoI has done ok over the last year and  Boucher’s tenure it is up the reality is it is still in the intensive care ward. If it finds itself needing billions more it wont go to the markets but to us. So, what applies to me should apply to Richie. But, it wont. So, why is it ok to treat Richie different? Are the richies that different

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8 thoughts on “The richies are different….

  1. Brian Mulligan

    As a tax-payer i don’t care about the optics here. Vindictiveness will get us nowhere. What I want to know is what will happen if we take a specific action. If we cap his money and he leaves, will we get someone else who can do as good a job. I’m a public servant and my future, and that of my children, is more dependent on the state of the national economy than my personal income. Can the economists just tell us what will happen?

    Reply
      1. rod1015

        No names I’m afraid but he or she is out there somewhere. The old guard should have gone by now and as for importing failed bankers from the UK……

  2. ken doyle

    Bank of Ireland loses for 2011 2.2 bilion, Payments to Bond holders on behalf of Bank of Ireland this month 2.3 billion. What is the structure of Mr Boucher salary, i beleive if it was based on performance and target driven it might not reach the dizzy heights of 834.00o more like 83,400.

    Reply

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