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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.