Friday 9 December 2016

Daly joins IL&P board amid growing fears over plc's future

FINANCE

Published 21/09/2011 | 05:00

IRISH Life & Permanent (IL&P) has succeeded in attracting a new member to its board, despite the significant uncertainty around the plc's future after the impending sale of key asset Irish Life.

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Chairman Alan Cook yesterday announced that UCD risk management lecturer Emer Daly was joining IL&P as a non-executive director.

A spokesman for the plc last night confirmed that Ms Daly had signed up after the March 30 announcement that IL&P would have to sell off its life insurance business and cede a 99pc stake.

Ms Daly's appointment has been through the Central Bank's fitness and probity process, he added, but declined to say when the appointment was submitted to regulators.

Investors

Dissident shareholder Piotr Skoczylas was elected to the IL&P board by an extraordinary general meeting of investors in July, but has not joined the board.

In a statement yesterday, Mr Cook said Ms Daly had an "invaluable" contribution to make to IL&P, citing her extensive experience as a non-executive director on public and private bodies.

Ms Daly currently serves as a non-executive of Isle of Man-based Friends Provident International and as chairman of the Dublin Dental University Hospital.

She has previously acted as a non-executive director of Eirgrid; a member of the Property Registration Authority; and a member of the Audit Committee of the Department of Justice and Equality. She is also a fellow of the Institute of Chartered Accountants.

Irish Independent

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