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The Dutch Finance Minister Wouter Bos has slammed the pay and perks deal being offered to the man expected to become the new chief financial officer of the banking and insurance group ING.
Bos says he is greatly frustrated that Patrick Flynn is to be given 100,000 ING shares, which are worth about EUR 400,000. Their value may rise in coming years, but ING have set a EUR 1.3-million ceiling on the cash that Flynn can make from them.
