Monday 14 October 2019

AIB reveals shake-up of executives and bank structure

Colin Hunt, CEO of AIB
Colin Hunt, CEO of AIB

Shawn Pogatchnik

AIB has announced a management shake-up and reorganised the bank into two core divisions.

The group's CEO Colin Hunt, in his biggest executive move since taking the helm in March, said the round of appointments and promotions would deliver "the right blend of skills (and) experience to deliver our strategy and back our customers".

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AIB is being restructured into two main arms.

These are a corporate, institutional and business banking division; and an enlarged retail banking arm that has absorbed other units, including financial solutions, consumer and homes.

The move follows confirmation last week that AIB, which employs around 10,000 people, is seeking voluntary severance from 200 employees focused on units being merged into retail banking.

The new appointments that were announced yesterday will become effective from November 11.

They include:

• Jim O'Keeffe, the chief customer and strategic affairs officer, will become managing director for retail banking.

• Mary Whitelaw, the bank's chief of staff, will join the executive board as director of corporate affairs and strategy.

• Robert Mulhall, managing director of consumer banking, will become managing director of AIB UK. The incumbent, Brendan O'Connor, is scheduled to leave the bank in 2020.

It follows Mr Hunt's hiring of Cathy Bryce to fill his own previous role as head of corporate and business banking last April.

Irish Independent

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