AllFirst chairman to retire at end of April

The chairman of AIB’s AllFirst subsidiary in the United States is to bring forward his retirement following the investigation into an alleged €700m fraud in the bank’s Baltimore office.

Frank Bramble announced plans to retire after the alleged fraud was uncovered, but the US stock market was informed today that that retirement will come into effect at the end of this month.

Eugene Sheehy, the former managing director of AIB in Ireland, will succeed Mr Bramble as head of AllFirst.