Executive PAY at ILP Over 10 Yrs

8/6/2019 Executive PAY at ILP Over 10 Yrs

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at Irish Life & Permanent PLC

-------------PAY by Chronologiogal Order by FY ------------

Role Name Total Over 10 -Years

Executive Denis Casey 9,998,000 Incl Payment in lieu - 1,249,000

Executive Peter Fitzpatrick 7,098,000 Incl Payment in lieu - 540,000

Executive Kevin Murphy 6,132,000

Executive David McCarthy 549,000

Executive David Went 6,626,000

Executive Brian McConnell 1,970,000

Executive Harry Lorton 566,000

Executive Billy Kane 190,000

Non-Executive Gillian Bowler 1,834,000

Non-Executive Breffni Byrne 665,000

Non-Executive Bernard Collins 47,000

Non-Executive Danuta Gray 438,000

Non-Executive Margaret Hayes 143,000

Non-Executive Eamonn Heffernan 506,000

Non-Executive Roy Keenan 356,000

Non-Executive Sandy Kinney 19,000

Non-Executive Ray MacSharry 127,000

Non-Executive Liam O'Reilly 130,000

Non-Executive Pat Ryan 68,000

Non-Executive Finbar Sheehan 597,000

Non-Executive David Byrne 274,000

Non-Executive Kieran McGowan 491,000Non-Executive Philip Lynch 126,000

Non-Executive Roy Douglas 638,000

Non-Executive Monthy Hilckoitz 98,000

Non-Executive Richard Hooper 98,000

Non-Executive Patrick Kenny 98,000

Non-Executive Patrick O'Neill 118,000

Non-Executive Muriel Scorer 98,000

Non-Executive John Burke 15,000

Non-Executive Neville Bowen 15,000

Non-Executive Michael Donnelly 19,000

Non-Executive Brendan Halligan 15,000

Non-Executive Conor McCarthy 15,000

40,177,000

TOP SCORES FOR EARNINGS - (EXCL PENSION AND SHARES)


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at Irish Life & Permanent PLC - from 2001 - 2010

-------------"Highest-Paid" Order ------------

Role Name Total Over 10 -Years

Executive Denis Casey 9,998,000 Incl Payment in lieu - 1,249,000

Executive Peter Fitzpatrick 7,098,000 Incl Payment in lieu - 540,000

Executive David Went 6,626,000

Executive Kevin Murphy 6,132,000

Executive Brian McConnell 1,970,000

Non-Executive Gillian Bowler 1,834,000

Non-Executive Breffni Byrne 665,000

Non-Executive Roy Douglas 638,000

Non-Executive Finbar Sheehan 597,000

Executive Harry Lorton 566,000

Executive David McCarthy 549,000

Non-Executive Eamonn Heffernan 506,000

Non-Executive Kieran McGowan 491,000

Non-Executive Danuta Gray 438,000

Non-Executive Roy Keenan 356,000

Non-Executive David Byrne 274,000

Executive Billy Kane 190,000

Non-Executive Margaret Hayes 143,000

Non-Executive Liam O'Reilly 130,000

Non-Executive Ray MacSharry 127,000

Non-Executive Philip Lynch 126,000

Non-Executive Patrick O'Neill 118,000

Non-Executive Monthy Hilckoitz 98,000Non-Executive Richard Hooper 98,000

Non-Executive Patrick Kenny 98,000

Non-Executive Muriel Scorer 98,000

Non-Executive Pat Ryan 68,000

Non-Executive Bernard Collins 47,000

Non-Executive Sandy Kinney 19,000

Non-Executive Michael Donnelly 19,000

Non-Executive John Burke 15,000

Non-Executive Neville Bowen 15,000

Non-Executive Brendan Halligan 15,000

Non-Executive Conor McCarthy 15,000

40,177,000

TOP SCORES FOR EARNINGS - (EXCL PENSION AND SHARES)


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Period: 2001 - 2010 Total 10-Year Earnings Paid to Executive and Non-Executive Members of the Bo

Page 3

ExecutivePAY

Non-ExecutivePay D

enis

Casey

PeterFitzpatrick

Kevin

Murphy

David

McCarthy

DavidWent

BrianMcConnell

2010 Salary (or Non-exec Fees) 497,000 500,000

Pay in Lieu

Annual Bonus

Benefit-in-Kind 34,000 31,000Other Remuneration 4,000 4,000

Tf Value of Pension

Shares taken up Benefit

1,070,000 722,000 - 497,000 538,000 35,000 -

2009 Salary (or Non-exec Fees) 369,000 63,000 515,000 483,000

Pay in Lieu 1,249,000 540,000

Annual Bonus

Benefit-in-Kind 26,000 64,000 33,000 27,000

Other Remuneration 2,930,000 52,000 196,000 4,000

Tf Value of Pension


6,551,000 812,000 4,574,000 719,000 744,000 514,000 -

2008 Salary (or Non-exec Fees) 890,000 540,000 525,000

Pay in Lieu 32,000 48,000 34,000

Annual BonusBenefit-in-Kind 20,000 400,000 400,000

Other Remuneration

Tf Value of Pension


2,889,000 934,000 942,000 988,000 959,000 - -


Pay in Lieu

Annual Bonus 617,000 382,000 380,000

Benefit-in-Kind 32,000 48,000 34,000 12,000

Other Remuneration 21,000 6,000 19,000 7,000

Tf Value of Pension


3,783,000 909,000 1,364,000 951,000 925,000 - 543,000


Pay in LieuAnnual Bonus 209,000 280,000 201,000 480,000

Benefit-in-Kind 28,000 36,000 29,000 32,000

Other Remuneration 17,000 4,000 17,000 23,000

Tf Value of Pension


3,307,000 823,000 602,000 788,000 582,000 - 1,335,000

2005 Salary (or Non-exec Fees) 322,000 434,000 310,000 725,000 156,00

Pay in Lieu

Annual Bonus 240,000 316,000 200,000 360,000

Benefit-in-Kind 28,000 38,000 26,000 31,000 12,00

Other Remuneration 17,000 1,000 17,000 22,000 1,00

Tf Value of Pension


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ExecutivePAY

Non-ExecutivePay D

enis

Casey

PeterFitzpatrick

Kevin

Murphy

David

McCarthy

DavidWent

BrianMcConnell


3,256,000 694,000 607,000 789,000 553,000 - 1,138,000 169,00

2004 Salary (or Non-exec Fees) 309,000 417,000 299,000 680,000 300,00Pay in Lieu

Annual Bonus 167,000 240,000 161,000 299,000 150,00

Benefit-in-Kind 25,000 37,000 26,000 25,000 21,00


Tf Value of Pension


3,225,000 541,000 517,000 695,000 503,000 - 1,025,000 485,00


Pay in Lieu

Annual Bonus 160,000 215,000 156,000 278,000 157,00

Benefit-in-Kind 24,000 32,000 25,000 18,000 21,00


Tf Value of Pension

Shares taken up Benefit3,022,000 595,000 490,000 638,000 473,000 - 946,000 475,00


Pay in Lieu

Annual Bonus 165,000 180,000 160,000 223,000 165,00

Benefit-in-Kind 25,000 29,000 25,000 18,000 16,00


Tf Value of Pension


2,964,000 491,000 477,000 540,000 462,000 - 822,000 455,00


Pay in Lieu

Annual Bonus 145,000 164,000 121,000 293,000 120,00

Benefit-in-Kind 26,000 30,000 18,000 18,000 16,00Other Remuneration 13,000 1,000 13,000 17,000 9,00

Tf Value of Pension


3,062,000 527,000 425,000 493,000 393,000 - 817,000 386,00

Total 10-Year Earnings 33,129,000 7,048,000 9,998,000 7,098,000 6,132,000 549,000 6,626,000 1,970,00

40,177,000 40,177,000


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Period: 2001 - 2010 Total 10-Year Earnings Paid to Executive and Non-Executive Members of the Boa

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MargaretHayes

Eamonn

Heffernan

Roy

Keenan

Sandy

Kinney

Ray

MacSharry

LiamO'Reilly

Pat

Ryan

Finbar

Sheehan

David

Byrne

Kieran

McGowan

PhilipLynch

RoyDouglas

64,000 25,000 83,000 19,000 56,000 25,000 63,000

64,000 25,000 83,000 19,000 56,000 25,000 63,000 - - - - -

77,000 78,000 95,000 - 69,000 78,000 5,000 38,000

77,000 78,000 95,000 - 69,000 78,000 5,000 38,000 - - - -

2,000 85,000 85,000 2,000 27,000 102,000 75,000 77,000

2,000 85,000 85,000 - 2,000 27,000 - 102,000 75,000 77,000 - -

78,000 77,000 78,000 68,000 83,000

- 78,000 77,000 - - - - 78,000 68,000 83,000 - -

75,000 16,000 83,000 65,000 80,000

- 75,000 16,000 - - - - 83,000 65,000 80,000 - -

63,000 94,000 63,000 63,000 24,000


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Page 6

MargaretHayes

Eamonn

Heffernan

Roy

Keenan

SandyKinney

Ray

MacSharry

LiamO'Reilly

Pat

Ryan

Finbar

Sheehan

David

Byrne

Kieran

McGowan

PhilipLynch

RoyDouglas

- 63,000 - - - - - 94,000 63,000 63,000 24,000 -

57,000 73,000 3,000 57,000 57,000 95,000

- 57,000 - - - - - 73,000 3,000 57,000 57,000 95,000

45,000 64,000 55,000 45,000 215,000

- 45,000 - - - - - 64,000 - 55,000 45,000 215,000

39,000 39,000 169,000

- - - - - - - 39,000 - 39,000 - 169,000

26,000 37,000 159,000

- - - - - - - 26,000 - 37,000 - 159,000

143,000 506,000 356,000 19,000 127,000 130,000 68,000 597,000 274,000 491,000 126,000 638,000


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Period: 2001 - 2010 Total 10-Year Earnings Paid to Executive and Non-Executive Members of the Board

Page 7

NevilleBowen

MichaelDonnelly

BrendanHalligan

ConorMcCarthy


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Period: 2001 - 2010 Total 10-Year Earnings Paid to Executive and Non-Executive Members of the Board

Page 8

NevilleBowen

MichaelD

onnelly

BrendanHallig

an

ConorMcCarthy

15,000 19,000 15,000 15,000

15,000 19,000 15,000 15,000

15,000 19,000 15,000 15,000


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Reports:

2010-11 Senior management

KevinMurphyGroup Chief Executive

Appointed Group Chief Executive in June 2009. An actuary and an employee o

DavidMcCarthyGroup Finance Director

Appointed to the Board of Irish Life & Permanent in March 2009, prior to this a

DavidGuinaneChief Executive permanent tsb

He was appointed to his current position of Chief Executive - permanent tsb in

BillHannanGroup Head of Risk & Compliance

Appointed to his current position in 2009. Prior to this Bill was Group Head of C

DavidHarneyChief Executive Irish life Corporate Business

David joined Irish Life in 1986 and has worked in various roles in Corporate Bu

GerryHassettChief Executive Irish Life RetailGerry has been Chief Executive of Irish Life Retail since 2007. He joined Irish

BrendanHealyGroup Chief Information Officer

Brendan has been the Groups Chief Information Officer since 2004.

Tony HessionGroup Head of HR and Organisation Development

Joined Irish Life & Permanent in his current role in 2007.

GerryKeenanChief Executive Irish Life Investment Managers

Gerry has been Chief Executive of Irish Life Investment Managers (ILIM) since

DervlaTomlinChief ActuaryBoard Committees

Audit

Breffni Byrne (Chairman)

Margaret Hayes

Roy Keenan

Pat Ryan

Remuneration and Compensation

Danuta Gray (Chairman)

Alan Cook

Ray MacSharryPat Ryan

Senior Independent Director

Roy Keenan

2010 Directors: Gillian Bowler (Chairman)

Kevin Murphy

David McCarthy

Breffni Byrne

http://www.irishlifepermanent.ie/investor-relations/reports-and-presentations/pr
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Bernard Collins

Danuta Gray

Margaret Hayes

Roy Keenan

Sandy Kinney

Ray MacSharry

Pat Ryan

Total group earnings, albeit still negative, improved significantly for

equity holders of 141m (2009: 313m loss).

Directors

The names of the directors are listed in the Company Information s

to the board in March 2010 as a non-executive director. Eamonn H

the board in May 2010 at the companys Annual General Meeting.

August 2010 as a non-executive director. Gillian Bowler, Breffni Byr

at the 2011 AGM and will not offer themselves for re-appointment.

and, being eligible, will offer themselves for re-appointment by electiinterest in the share capital of the company and of transactions invo

parties to the financial statements. None of the directors service co

months.

Loss after tax attributable to owners of the parent (141) (313)

These committees are the Audit Committee, the Risk

and Compliance Committee, the Remuneration and Compensation

The amount of fees paid to external auditors for audit fees was 1.7

1.6m (including VAT) was payable to KPMG Ireland and 0.1m (in

affiliates. 0.6m (including VAT) was paid to KPMG Ireland for othe

VAT) was paid in respect of tax advisory services and non-audit serand 0.3m (including VAT) to KPMG overseas affiliates).

Risk and Compliance Committee

The Risk and Compliance Committee comprises Pat Ryan (Chairm

and Sandy Kinney. The Group Board ensures that the chairman of t

and / or compliance experience

Audit Committee

The Audit Committee comprises Breffni Byrne (Chairman), Margare

MacSharry and Pat Ryan.

Nomination Committee

This committee comprises Gillian Bowler (Chairman), Breffni Byrne,

appointment of new directors.

work with or for the group, to raise any concerns they may have ab

Basic salary

The basic salary is reviewed annually having regard to competitive

No increases in basic salary were granted to executive directors in

The Remuneration and Compensation Committee comprises Da

MacSharry. The committee is charged with responsibility for brin

The group has in place a Speaking Up (or "whistle-blowing") Poli


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Benefits

on behalf of the executive directors and their families. In addition, e

house purchase loans.

Executive directors are entitled to a company car or a car allowan


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2009

Directors: Gillian Bowler (appointed 12 October 2009)

Breffni Byrne (appointed 12 October 2009)

Danuta Gray (appointed 12 October 2009)

Margaret Hayes (appointed 12 October 2009)

Eamonn Heffernan (appointed 12 October 2009)

Roy Keenan (appointed 12 October 2009)

Ray MacSharry (appointed 12 October 2009)

David McCarthy (appointed 30 September 2009)

Kevin Murphy (appointed 30 September 2009)Liam O'Reilly (appointed 12 October 2009)

Pat Ryan (appointed 15 December 2009)

Bernard Collins (appointed 02 March 2010)

Secretary: Ciarn Long (appointed 29 September 2009)


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Aggregate remuneration for executive directors amounted to 11.1

Denis Casey retired from the board on 28 February 2009. Denis Ca

2009; salary payments are included up to this date. In addition to sa

lieu of notice 1,249,000 in accordance with his contractual entitle


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2008


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2007


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2006 The board is very A year of outperformance

optimistic about 2006 was another year of great success for t

the outlook for with each of our core businesses outperformi

the group respective markets. Operating profits were st

both the life and banking businesses and op

earnings per share, reported on an embedde

basis, increased by 31% compared to 2005.

tremendous result and management and staf

our congratulations and thanks for delivering

performance.


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2005

2004


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The groups performance Corporate Governance

is firmly set in the context The group is committed to maintaof its Ireland First standards of corporate governanc

strategy committed to ensuring that a cultu

embedded within all of our busine

activities.

2004 saw the group deliver another very satisfactory

performance.

Total profits after tax were ahead 57% to a411.2m

compared to a261.8m.

Credit Risk Management

Credit risk throughout the group is approved and

managed in line with a set of clearly defined policystatements, which have been approved by the board.

Credit activities are monitored and controlled by the

Group Credit Committee which is chaired by the

Chief Executive of permanent tsb and comprises

members of senior management (including executive

directors).

The Group Credit Committee is responsible for

developing and implementing credit policy within the

context of the overall credit policy approved by the

board. The group credit policy statement provides for

tiered levels of discretion with regard to acceptance of

credit exposures. All exposures above a certain level


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require the approval of either the board or the Group

Credit Committee, depending on the size of the

exposure. Individual discretion limits are set by

reference to the extent of the individual's experience,

proven competence and the nature and scale of

lending undertaking in the relevant business units.

Lending proposals above individual discretion limits

are referred to business unit credit committees, the

Group Credit department, Group Credit Committee or

the board, as appropriate.


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2004

2004 2003


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1999


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f Irish Life since 1972, he was appointed a main Board Director following the merger of Irish Life and I

pointment he was Group Financial Controller since the merger of Irish Life and Irish Permanent in 19

November 2007.

ompliance, and, Chief Operating Officer Irish Life Retail. Before the merger of Irish Life and Irish Pe

iness since 1998. David is an actuary.

ife in 1987 where he enjoyed a variety of roles in the sales and marketing area, most notably the dev

2005. Prior to this Gerry was responsible for development of ILIM's investment services and for client

sentations/2011.aspx
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53/190

he period, with a loss after tax attributable to

ction of this report. Bernard Collins was coopted

ffernan and Liam OReilly retired from

andy Kinney was co-opted to the board in

ne and Danuta Gray will retire from the board

ll other directors will retire at the 2011 AGM

ion. Details of the directors and secretaryslving directors are set out in Note 53, Related

tracts have notice periods exceeding 12

Committee and the Nomination Committee

m (including VAT) payable to KPMG, of which

cluding VAT) was payable to KPMG overseas

assurance services and 1.5m (including

vices (1.2m (including VAT) to KPMG Ireland

n), Breffni Byrne, Bernard Collins, Roy Keenan

he committee has relevant risk management

Hayes, Roy Keenan and Pat Ryan

Danuta Gray, Roy Keenan and Ray

ut suspected wrongdoing within the group,

arket practice and Government guidelines.

010.

nuta Gray (Chairman), Gillian Bowler, Ray

ging recommendations to the board regarding the

cy, which allows all staff and other people, who


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ecutive directors may avail of subsidised

ce. The group also pays private health insurance


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(2008: 3.1m).

seys employment terminated on 14 May

lary Denis Casey received a payment in

ents.


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21.01

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e group

ng their

rong in

rating

d value

his is a

f deserve

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ining the higheste and we are

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ss units and


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rish Permanent in 1999.

9.

rmanent in 1999, he was Managing Director and Actuary of Irish Progressive Life Assurance Compan

lopment of the Groups Bancassurance businesses.

portfolio management.


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Documents

Executive PAY at ILP Over 10 Yrs