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| New AIB boss unveils executive team reshuffle |
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Allied Irish Banks' new boss Colm Doherty has enlisted a former colleague in the group's capital markets division to overhaul credit management of the loss-making group -- as he unveiled a raft of appointments to his executive team.
Joe O'Connor, currently chief credit officer of capital markets, AIB's most profitable division so far during the financial crisis, is set to become group chief credit officer, integrating credit functions across all its divisions for the first time.
In an email to staff yesterday, Mr Doherty said: "The challenge of ensuring that an appropriate credit culture is redeveloped is an absolute priority for me."
Uncertain
Acting chief financial officer Maeliosa O hOgartaigh is being appointed to the new role as head of corporate development and government relations -- at a time when it remains uncertain as to what stake the State may end up with in the group.
"Maeliosa will be responsible for leading the implementation and ongoing interaction with NAMA, our EU restructuring negotiations and all government relationships," said Mr Doherty.
He will also take responsibility for the group's pension strategy, at a time when it is pushing for members of its defined-benefit scheme to start contributing to a fund that is currently
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