Monday 1 May 2017

Shane Ross: AIB shareholders to grill Hodgkinson

SHANE ROSS

DANIEL Hodgkinson will face a baptism of fire at the EGM of Allied Irish Banks tomorrow.

The new chairman from the HSBC stable has already received a cool reception from some members of the old AIB regime, the guys that refused to resign en masse after the property debacle that led to the humiliation and nationalisation of the country's biggest bank.

Shareholders, who are being asked to approve of the sale of AIB's 22.4 per cent stake in M&T Bank of the US, will not be pacified by the presence of Mr Hodgkinson. They will gather to mourn the annihilation of their shares. The once mighty AIB's share price peaked at €23.

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