Allied Irish Banks, p.l.c. (AIB) said Dan O'Connor, currently Non-Executive Chairman of AIB, is to take on the role of Executive Chairman on a temporary basis in order to oversee the Group's work on the completion of the key tasks of capital raising, the implementation of NAMA and the EU restructuring plan.
Colm Doherty, formerly Managing Director, AIB Capital Markets, has been appointed as AIB Group Managing Director. Doherty will take up his new role as Group Managing Director with immediate effect. Doherty will be responsible for the day to day running of the Group.
AIB Group Chief Executive, Eugene Sheehy, is to retire on 30 November.
Further, Michael Somers, Chief Executive of The National Treasury Management Agency, will be appointed to the AIB Board as Deputy Chairman. He will also Chair the AIB Board Risk Committee. Somers will take up his new post on completion of the Regulatory approval process. David Pritchard, currently AIB Deputy Chairman, is to step down from that post.
The company further noted that the key Executive functions of Group Finance Director and Group Chief Risk Officer are also to be filled by external appointments.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.