herald

Friday 15 December 2017

Banking: Shortlist drawn up for AIB chief

AIB's new executive chairman will be appointed within several weeks, with the National Treasury Management Agency (NTMA) having already drawn up a shortlist.

The agency is setting up a team from PricewaterhouseCoopers (PwC) to the bank to support the existing management.

Last week Finance Minister Brian Lenihan ordered a clear-out of AIB's top executives, outlining that managing director Colm Doherty, above, will be axed by the end of the year, along with chairman Dan O'Connor.

The current chairman and managing director have said they will remain in place as long as is required.

It is understood that just three PwC consultants will be working on "ongoing business issues" and "day-to-day" matters at the bank.

A spokesman for the NTMA denied that the PwC team would be running the bank.

The accountancy firm was paid €6.65m by State agencies for its work during the banking crisis up to July 2010, according to a report by the Comptroller and Auditor General.

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