Pay for new AIB boss 'to exceed salary cap'
It has reported this morning that a salary cap of €500,000 will not apply to the next top banker at AIB.
According to today's Irish Times, Colm Doherty is paid more than €630,000 a year in his current position as a senior executive at the bank.
He is expected to be appointed managing director of AIB shortly - but will not be forced to take a pay cut.
Finance Minister Brian Lenihan set the salary cap for a bank 'chief executive' earlier this year, however there has been speculation ever since that the pay limit would put off external candidates who would otherwise be interested in such jobs.
