FBD hires corporate heavyweight D'Alton
Published 04/10/2015 | 02:30
Insurer FBD has hired corporate heavyweight Paul D'Alton as its interim chief financial officer.
D'Alton (64), a former senior executive at RSA, Bank of Ireland and Waterford Wedgwood, is one of the country's most experienced directors.
Company records show he currently sits on the board of a variety of organisations including the Irish Takeover Panel, Bastow Charleton Wealth Management and Ranelagh Consultants.
D'Alton joins interim chief executive Fiona Muldoon's top team at FBD, who are faced with turning the company around following a disastrous year. The company was hit with larger than expected claims and low investment returns that damaged its solvency buffer.
Former central banker Muldoon was hired as FBD's chief financial officer in March and promoted to interim chief executive when previous boss Andrew Langford left during the summer; her ascent left the vacancy that D'Alton is filling on an interim basis.
Muldoon is expected to be confirmed as permanent chief executive job in the coming weeks.
Last month she secured a €70m cash injection for the insurance company from Canada's Fairfax Financial.
Sunday Indo Business