Irish Life & Permanent's five executive directors shared a total remuneration package worth €3 million in 2003, up 2 per cent on the previous year. Its chairman, Mr Roy Douglas, received a 27 per cent pay rise - from €169,000 to €215,000.
According to its annual report, the chief executive, Mr David Went, received a total package of €946,000 - up from €822,000 in 2002. He was paid a salary of €630,000, a bonus of €278,000, benefits in kind worth €18,000 and other remuneration of €20,000.
The group's finance director, Mr Peter Fitzpatrick, received a package worth €638,000. He was paid a salary of €390,000, a bonus of €215,000, benefit-in-kind payments of €32,000 and other remuneration of €1,000.
Mr Denis Casey, the head of its life assurance business, received €490,000. This was made up of a salary of €291,000, a bonus of €160,000, benefit-in-kind payments of €24,000 and other payments totalling €15,000.
Mr Kevin Murphy, the head of Irish Life Investment Managers, got a package worth €473,000, including a salary of €279,000, a €156,000 bonus, benefit-in-kind payments of €25,000 and other remuneration of €13,000.
The head of its Permanent TSB banking arm, Mr Brian McConnell, was paid €475,000. He received a salary of €285,000, a bonus of €157,000, benefit-in-kind payments of €21,000 and €12,000 in other remuneration.
Their total package was swelled further through pension contributions of €402,000. Some €203,000 was paid into the company's defined-contribution scheme on behalf of Mr Went, according to the annual report.
The group's non-executive directors shared total payments of €595,000, up from €491,000. The €215,000 payment to Mr Douglas accounted for more than 30 per cent of those payments. His fees are close to the €217,000 earned by the AIB chairman, Mr Dermot Gleeson, last year.
The other directors earned €22,000 to €64,000 for their services to the company. Mr Finbarr Sheehan, who was chairman of the audit committee, was awarded a €9,000 bonus for his role during the last year.
