Business Irish

Monday 26 February 2018

Changes at the top for EBS and BoI

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EBS boss Fergus Murphy (above) confirmed the departure of retail director Dara Deering and director of people, communication and change Dave Keenan in an email to staff yesterday.
EBS boss Fergus Murphy (above) confirmed the departure of retail director Dara Deering and director of people, communication and change Dave Keenan in an email to staff yesterday.
Laura Noonan

Laura Noonan

FORMER building society EBS has lost two more of its most senior managers -- just days after finance chief Emer Finnan stepped down.

EBS boss Fergus Murphy confirmed the departure of retail director Dara Deering and director of people, communication and change Dave Keenan in an email to staff yesterday.

A spokesman for EBS said the trio of departures was not related.

The news comes after EBS became a subsidiary of AIB in the summer, a merger that had implications for some management roles as EBS was no longer a stand-alone entity.

Mr Murphy described the latest departures as a "big loss" and said he would be announcing a "management reorganisation" in the new year.

Mr Keenan had spent 21 years at the bank, while Ms Deering was there for 11 years.

Mr Murphy, however, sees a long-term future for himself at EBS, and was recently given responsibility for AIB's overall transformation project.

The management changes emerged days after industrial action at EBS as workers picketed over the non-payment of a traditional "13-month" remuneration.

Management said the payment had been deemed a "bonus" and could not be made in light of government prohibitions on bonuses.

Dispute

Trade union Unite said it was effectively an employee saving scheme and should be paid.

The dispute may spread to the wider AIB group in January.

Meanwhile, Bank of Ireland has announced the appointment to the board of Patrick Mulvihill and Pat Butler as non-executive directors.

Mr Butler is a partner in Resolution Group, a financial services investment company.

Mr Mulvihill spent much of his career at Goldman Sachs, retiring in 2006.

And John O'Donovan will retire as an executive director with effect from December 31, 2011.

Rose Hynes has indicated her intention to retire as a non-executive director with effect from December 31, 2011.

Jerome Kennedy will retire as a non-executive director at the end of the next annual general meeting.

Irish Independent

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