Wooed with cash bonus

CAM Bank headquarters in Alicante

CAM bank executives received high salaries to dissuade them from leaving, a regional parliamentary commission learned last week.
Their loss would have been “traumatic” Luis Esteban told the commission, which is examining CAM’s nationalisation last year. 
Esteban was on the CAM’s board of directors between 2001 and 2010 as well as its Salaries Committee.  Rises were approved on the advice of the bank’s directors and outside consultants familiar with the salary scale within the sector, he said. 
CAM at that time, Esteban also pointed out, was the fourth most-important savings bank in Spain.

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