Donegal-born businessman on Wall Street list

A Donegal-born businessman has been named as one of the 50 best-paid executives on Wall Street.

A Donegal-born businessman has been named as one of the 50 best-paid executives on Wall Street.

Liam McGee is CEO of Hartford Financial Services, one of the biggest insurance and wealth-management firms in the US.

He turned down the chance to run the bailed-out Allied Irish Banks (AIB), where salaries are capped at €500,000 a year.

Before he joined the US firm in 2009 Mr McGee was tipped as the front-runner to manage AIB.

However, it would have meant signing up for a maximum €500,000-a-year salary and Mr McGee took the job at Hartford instead where his starting salary was $1.1m in 2009, and has since risen to $1.4m.

Last year his take-home pay was $7.9m after bonuses of $6.5m.

He was ranked as the 39th best paid US financial services executive according to research by Bloomberg.

Mr McGee moved to the US at a young age and is little known outside the banking world.