Fitzpatrick announces intention to step down from AIB post next year

THE long-serving chief executive of Anglo Irish Bank Sean Fitzpatrick confirmed yesterday that he plans to step down next year after 23 years in charge.

He said after the bank's annual general meeting that he is likely to step down by January. However, he made no comment on speculation that he will takeover as chairman of the bank.

"The deal was this: we said a number of years ago all the executives should retire in their mid-50s and we are trying to make sure we don't all go at one stage.