Monday 20 November 2017

Executive granted an injunction to stop bank firing him

Tim Healy

A SENIOR Ulster Bank executive yesterday secured an interim High Court injunction to stop his employer from terminating his employment.

John McGrane (54), the head of product and services sales at Ulster Bank Corporate Markets, is also the vice-president of Dublin Chamber of Commerce and a director of Dublin City Enterprise Board and the National Concert Hall.

The court heard he worked for Ulster Bank for 38 years and is one of the most senior executives in Ulster Bank in Ireland.

Mr Justice Michael Peart also granted an interim order restraining Ulster Bank from conducting an inquiry into Mr McGrane's competence as a member of the bank's senior management team.

The judge also granted an order restraining the conduct of a meeting convened for 5pm yesterday or at any other time. The case comes before the court again tomorrow.

Mr McGrane is a well-known banker with ties to government and the arts. He has been closely linked to Ulster Bank's sponsorship of the Dublin Theatre Festival.

He was asked last year by Arts Minister Jimmy Deenihan to draw up a report on how business and philanthropy can help the arts as the State cuts funding.

The banker was also involved in the publication of a report by the Small Firms Association on succession planning.

Indo Business

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business