Both heads of AIB on the way out, will there huge golden handshakes for them??

N

NOAH

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I had to post this and wait for the news to break. And when we read how well they will be rewarded for abject failure maybe then we might get an election??

noah
 
Without a doubt they will retire happy - unlike the rest of us who will have to work until we drop!
 
Some perspective is required. Prior to becoming Managing Director/CEO, Colm Doherty was head of AIB Capital Markets. Capital Markets has always been highly profitable and still is. And during the "boom" Doherty's was critical of lending policies within AIB. Brian Lenihan said during the week that he'd be remunerated as per the terms of his contract. I have no issue with that and neither should anyone else.

I'm no fan of the bankers, but fair's fair in relation to certain people. I have no connection with this person or AIB (other than as a customer).
 
Hi Baz

I agree with you fully. It is a huge loss to see Colm Doherty leaving and I don't understand the rationale for it. He was one of the good guys.

Likewise it was ridiculous to get rid of Denis Casey of Irish Life and Permanent. He was a good guy who had not got involved in commercial lending. The very odd thing is that he was not even interviewed by Regling and Watson, by the Gardai or by anyone else. He had offered his resignation to the board and it refused it. However, Brian Lenihan demanded it. I think he was hugely mistaken.

We have so few good guys, that it is crazy to be getting rid of them.

And during the "boom" Doherty's was critical of lending policies within AIB.
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I have been told this by insiders that he was a very conservative banker. Had he been in charge, AIB would not have gone mad. But do you have any link to back this up. I only have word of mouth.

Brendan
 

Unfortunately not. Like you, I've been told this by insiders. He's expected to walk into another senior role. Given that we as taxpayers now own AIB, it's frustrating to see good people who can improve the return on our investment moving to "the private sector".
 
David Clerkin says it in today's Sunday Business Post

Doherty, who had supposedly warned of the risks of over-reliance on property lending - repeatedly played down his role in the catastrophic lending ...
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