Former judge appointed chairman of new Irish Banking Culture Board
Former Court of Appeal judge Mr. Justice John Hedigan has been appointed to the role of Chairman of the new Irish Banking Culture Board (IBCB).
The independent board was proposed by the banking industry itself in an aim to rebuild trust in the sector, and Mr. Justice John Hedigan will take up his role in January.
Until he recently retired, Mr. Justice John Hedigan was a judge of The Court of Appeal in Ireland, and prior to that, a judge of The High Court from 2007 until 2016, and a judge of The European Court of Human Rights from 1998 until 2007.
Dame Colette Bowe, Chair of the Banking Standards Board in the UK, and chair of the selection panel for the appointment, welcomed him as the first chair of the IBCB.
"His professional experience and strong interest in improving banking culture for the good of Irish society will ensure that the IBCB gets off to the best possible start and I wish him every success in the role," she said.
Drawing on the findings of a consultation process announced in September, the new chair will shape the purpose, structure and initial terms of reference of the new board.
That process included a banking staff survey, an online public consultation and stakeholder interviews with representatives in Ireland.
Mr. Justice John Hedigan said the role is "a challenging but most worthy endeavour".
"I am greatly looking forward to working with the new Board and engaging with all stakeholders, particularly bank customers, in facilitating and encouraging the highest standards of ethical conduct in this vital industry," he said.
The ongoing public consultation, at www.yoursaybankingculture.ie, will close on Monday December 10 at 5pm, and the full findings of the process will be published next spring.
The IBCB chair will be accountable to the independent board, who will evaluate performance on an ongoing basis.