AIB to be reorganised into a single business

AIB is to reorganise itself into a single business in what the bank called the most challenging change programme it has ever undertaken.

It is also reshuffling its top management. Executive chairman David Hodgkinson said he is “hopeful” that the bank will have a new chief executive by late in the third quarter or early in the fourth quarter.

AIB will operate as a single bank instead of a collection of separate businesses.