AIB chief executive to tackle property loans to managers


This is surely an important statement made by David Duffy in Galway and reported in the Irish Times on 23rd February 2013.

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This is a letter I wrote to the Irish Times which has not as yet been published:
Sir,
Strong words indeed from the Head of AIB, David Duffy, and quoted in John Fallon’s article in Business Today, Saturday 23 February. Surprise, surprise, only now is he able to admit that his own Managers were using the Bank’s funds to run parallel businesses as developers. His hand has no doubt been forced by the new “Probity Regulations”.
Now, we all know that many Managers are being let go this year with substantial packages, including lucrative retirement pensions and lump sums. What, if anything, will Mr Duffy do to stop this blood letting, using tax payers’ money and can he move retrospectively to catch those who thought that they were out the gap?
Yours, etc,

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About rod1015

Retired professional, gym fit cyclist, cooking buff, eternal optimist who enjoys the Irish Times with a good mocha and occasional Tweet, - residing in Cork.
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