IE
Sector: Retail banking
GUEST COMMENT: Irish financial services professionals need to get over their ‘safety first’ attitude
To say the least, Ireland has had it tough over the last three years. 2008 marked the start of the worst recession the country has ever seen and just when things look like improving, the eurozone is suddenly on the precipice. Understandably, therefore, the predominant emotion among many financial services professionals has been fear. Any [...]
Workout specialists are now receiving pay rises of up to 20%
Three years’ ago, if you were a corporate banker forced into a property loan workout role just to remain in employment you’d have probably considered yourself a little hard done by. Now, as a seasoned professional in this niche yet in demand area, you’re likely to be the subject of a bidding war. Pay is [...]
Executive pay might be increasing at AIB, but salaries are still generally on the decline
The fact that AIB appears to be on the cusp of succeeding in its quest to pay its new chief executive more than €500k (possibly a €1m package) is likely to spur a new wave of public anger in Ireland over banker remuneration. However, it’s worth noting how much rank-and-file staff at the bank have [...]
EDITOR’S TAKE: Even bailed out banks need to pay more than €500k
To most people, the prospect of a €500k salary is the stuff of dreams. To an experienced chief executive of a large bank, it’s something of a derisory offer. AIB’s search for somebody to take over the helm has been going on for almost a year. David Hodgkinson has filling the void in the meantime [...]
Proof that it’s much more lucrative to volunteer for redundancy early on
Now that the government has control of the purse strings, redundancy severance payments in the domestic banks are likely shrink. It’s questionable just how quickly this will happen, however. The Sunday Post this week claimed that the Department of Finance has demanded that all state supported banks reduce their severance package to around three or [...]
Capital markets is Bank of Ireland’s most profitable division, but it’s also seen most staff depart
Irish banks have struggled to both pay and retain people working within their capital markets divisions, despite the fact that they remain relatively profitable. Bank of Ireland’s interim results demonstrate this trend. At the end of June, there were 1,105 people working in BoI’s capital markets division. This is a reduction of 291since this point [...]
Ulster Bank has hired 100 people so far this year
Royal Bank of Scotland has reported its interim results this morning and its Irish subsidiary, Ulster Bank, continues to be a drag on profitability. In its core unit, impairment losses on its property portfolio decreased to 269m (€309m) in the second quarter, down from 461m in Q1, but they rose to 977m in its non-core [...]
Whisper it, but banning bonuses in Irish banks is not a smart idea
This might seem a slightly crass sentiment in the wake news of Ireland’s new junk status and talk of a second bailout, but a wholesale ban on bonuses in domestic banks could be a bad move. Banker bonuses are, to say the least, a sensitive subject in Ireland. You only had to witness the public [...]
Money is no longer the main motivation for Irish bankers
Irish banks are, of course, less generous than they used to be. Bonuses are non-existent, salaries have been frozen for years and new recruits are paid less than the previous incumbents of the role. But do Irish bankers really care? At the top end of the scale, NTMA chief Michael Somers argued that the government [...]
There are still some opportunities at the new Anglo venture
So long Anglo Irish Bank and Irish Nationwide Building Society (INBS), hello Irish Bank Resolution Corporation Limited (IBRC). Employees from Irish Nationwide have transferred across to the employment of Anglo, giving the combined entity a headcount of 1,300, and initial indications suggest that they have no intention of leaving their new overlords any time soon. [...]
Follow eFinancialCareers
What is RSS?
Advice
