Former AIB executives still have something to sell
Published 27/01/2011 | 05:00
AIB may be leaving the main ISEQ list and still scraping around for €6.1bn in fresh capital, but its former management team have been experienced contrasting fortunes since departing the bank.
The rule of thumb for preferment post-AIB seems to be, chairmen good, management bad.
Barrister Dermot Gleeson, chairman in the years before the bank's collapse, has prospered since stepping down, taking up a chairman's role at travel company Travelport Plc and now returning to private practice. In the law library Gleeson's stock is reported to be high, despite the events of the last three years.
The former chief executive of AIB, Eugene Sheehy, has fared less well, but is reported to be studying as a student in NUI Maynooth. His successor Colm Doherty, who lasted just a year, is reported to be studying some opportunities in the US, but has so far not landed a high profile role.
But the AIB brand is far from toxic in the recruitment world as evidenced by the appointment of Donal Ford, the former head of AIB's entire division, as secretary general of the Irish Red Cross.
Apparently the former AIB man is wanted as the NGO tries to improve its corporate governance and financial management systems, surely areas of strength at AIB in recent years?