NTMA's Corrigan tipped for AIB chair
John Corrigan, the boss of the National Treasury Management Agency (NTMA) , has emerged as a potential candidate to become the new chairman of AIB.
The 99 per cent State-owned bank has appointed Korn/Ferry International, the global executive recruitment firm, to find a successor to incumbent David Hodgkinson. The process is only at a preliminary stage – but Corrigan is understood to already be in its sights.
Current chair Hodgkinson, a former HSBC banker, joined the AIB board in October 2010, so he is approaching his third anniversary at the bank.
The recruitment process could take six months to conclude.
Corrigan's NTMA contract does not expire until late 2014.
Other potential candidates being eyed up include Michael Somers, the former head of the NTMA who is vice-chairman of AIB, and a number of veteran international bankers.
Meanwhile, Brendan Murphy, director of finance, technology and risk of the NTMA, is understood to be leaving the NTMA to take up a senior position with Bord Gais.
AIB did not repond to our requests for a comment.