FORMER Irish Nationwide chief Michael Fingleton claimed almost €450,000 in holiday pay as he exited the ailing building society, the Irish Independent has learned. Mr Fingleton was paid the sum for “untaken leave” as part of the massive €2.4m package he received from Irish Nationwide Building Society in 2008.
Michael J Fingleton Esq. A bluffer’s guide:
* He was in charge when the bad loans were given,
* These included included €10m EACH for rogue solicitors Micheal Lynn and Thomas Byrne, overruling his own staff in the process.
* In 2002, he had an affair with a female subordinate resulting in a €200,000 settlement.
* And the remaining staff?
Its 300-strong workforce have no idea what will happen to their jobs as the small building society will almost certainly be merged with another company in the near future.
They are among the lowest paid in the industry who, up until a few years ago, were still clinging onto the hope that their boss, Michael Fingleton, would succeed in demutualising the building society giving them all a big pay day.
“Fingleton was constantly promising there would be a golden egg for everyone while he was paying us buttons,” one staff member says.
* So far, Fingleton is the only one to take a “golden egg” from Irish Nationwide, walking away with €27m of the society’s total €36m pension pot.
Let’s just do this every time he comes home from holiday: