Sunday 26 February 2017

Byrne can't win with mortgage

Sir -- I can't believe this! I am writing to the editor of a national newspaper defending an executive of one of our banks! I had better write this fast in case I am taken away by the men in white coats!

Nick Webb's article (Sunday Independent, June 5, 2011) about 'AIB's new golden boy' Bernard Byrne keeping his mortgages with rival banks, is rather unfair. Mr Byrne, obviously, had taken out these mortgages when he was in the ESB, prior to taking up his executive position with AIB, in February 2010. Nothing wrong with that.

Being in the financial services business, I am not in the slightest bit surprised that he has left these mortgages with rival banks. AIB is not in the business of taking over lendings from other institutions, so why should it break policy for Mr Byrne? Was that not part of the problem in the past?

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