"It’s a tough job, but somebody’s got to do it," - that 'somebody' is António Domingues who as the new Chairman of Caixa Geral de Depósitos will struggle by on €423,000 a year - or €30,000 a month for 14 months each year, with ample vacation and a bonus of up to 50% of his fixed salary.
The remuneration package funded by the taxpayer-owned bank is, according to the Finance Minister, about right compared to others in the banking sector, a sector already noted for its fat-cat, callous and often incompetent directors, a sector that has seen big brand names such as BES and Banif collapse leaving shareholders and investors high and dry.