MINISTER FOR FINANCE WELCOMES THE APPOINTMENT OF A NEW CEO AT PERMANENT TSB
The Minister welcomes the appointment of Mr Jeremy Masding to the newly created position of CEO at Permanent TSB bank which arises from the planned decoupling of the banking business from the life entity into an independent autonomous operation.
Commenting on today’s (16th January 2012) appointment the Minister said:
“I would like to wish Mr Masding every success in his new role at this critical juncture in the history of the bank and looks forward to engaging with him on the challenging work ahead.
Mr Masding brings a wealth of banking experience from a variety of banking roles within the UK and other countries to his new position.
Mr Masding has been appointed following a rigorous recruitment process and his appointment has been approved by the Central Bank of Ireland. I would also like to convey my appreciation to IL&P and its Chairman, Mr Alan Cook, for the professional and diligent manner in which the process was executed.
The Government is pleased that the remuneration package for Mr Masding is within the guidelines which underpin the State’s substantial investment in IL&P (see note below).”
16 January 2012
NOTE TO EDITORS:
Under the terms of the State’s investment in IL&P no individual may receive total annual aggregate remuneration - excluding pension contributions - but inclusive of all other elements such as annual base salary, bonuses, benefits, etc - in excess of €500,000 per annum for a period of 2 years from June 2011.