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McCrohan is to retire from AIB

AIB lifer Jerry McCrohan, who once headed the capital markets division, is to retire from the state-owned institution.

AIB chief executive David Duffy told staff yesterday that Mr McCrohan (62) had reached retirement age in 2010 but had agreed to remain with the bank as it went through transition.

Last year, Mr McCrohan was named director of corporate, institutional and commercial banking as part of sweeping changes to the bank's operating model.

He joined AIB in 1969 after graduating from Trinity College, Dublin and initially worked in a range of retail and commercial roles at the bank.

Mr McCrohan was seconded to the IDA in 1979 and later returned to the bank.

He was a founder of Ark Life Assurance and was also responsible for spearheading AIB's foreign direct investment strategy from the late 1990s to the middle of the last decade.

He is also a past president of the American Chamber of Commerce.

Mr Duffy said that since 2010 Mr McCrohan had "successfully led the transition of his area of responsibility to a structure and business model well equipped to meet the future".

Irish Independent