Consult on new bosses, demands Lenihan

FINANCE Minister Brian Lenihan said he expects to be consulted on the appointment of a new chief executive and chairman of AIB.

The minister said he “supports these developments as part of the ordered change in the board membership over a sensible but not overly-protracted period,” he said.

And the Government will not negotiate with financial institutions regarding the “bad bank” plan to deal with its risky property loans, Mr Lenihan said. The National Management Agency (NAMA) will manage property loans with a book value of up to €90 billion, which it will buy at an undisclosed discount from the banks in return for Government debt.