AIB names Byrne as financial chief

AIB has named current ESB financial director, Bernard Byrne as its new chief financial officer as part of its ongoing management restructuring process.

Mr Byrne, who has been in his second spell at the ESB since 2004, is scheduled to take up his new position with AIB in May. He has previously held financial positions with the likes of PricewaterhouseCoopers (PwC) and Dublin-headquartered industrial holding company IWP International.

His appointment follows on from five internal re-positionings at AIB, announced last week. The external appointment of a new chief risk officer is also expected in the near future.

Commenting on Mr Byrne’s appointment, AIB group managing director, Colm Doherty said: “His experience includes the financial management of operations in Ireland, the UK, Poland and the US – all of which are also significant AIB locations. His familiarity with our areas of operation, coupled with the external perspective he brings to the role, will be a major asset to the group as we position ourselves for the future.”

For its part, the ESB said yesterday it would “shortly place advertisements” to fill the vacancies left by Mr Byrne and ESB Energy International director, Michael McNicholas who is also leaving the company for a position in the private sector.

Meanwhile, AIB has also found itself embroiled in another overcharging scandal, with the bank estimating that it will have to refund around 40,000 account holders a combined €4 million after errors in classifying some accounts resulted in “incorrect charges being applied”. The error surrounded the classification of some personal and business accounts being mixed up.

“Until the full process is complete, it is not possible to quantify exactly how many accounts are affected and what the total refund amount will be,” the bank said.