Anglo Irish Bank has started designing a new remuneration policy for the bank's 1,500 staff which is expected to be included in its new business plan being devised by executive chairman Donal O'Connor.

The bank has still not taken a decision in relation to share options owed to staff shortly before nationalisation however.

A number of staff in the bank's trading room are taking legal advice on whether they have an entitlement to these options or some kind of cash equivalent from the bank. It is not clear whether the new business plan will address the specifics of this case or not.

A spokeswoman said: "The bank is continuing to review its position in relation to the awarding of share options to senior staff post-nationalisation and no decision has been taken in respect of this, as yet. The business plan is currently being developed and will include details of the bank's future remuneration strategy."

The bank is also expected to look at overall headcount numbers as the bank shrinks its property-heavy balance sheet and targets instead opportunities in retail banking, an area it previously shunned.