Share sale to net Fitzpatrick €27m

Anglo Irish Bank Corporation has announced that three million shares are to be placed on behalf of three directors by Davy Stockbrokers.

Retiring chief executive Sean Fitzpatrick is to sell two million shares or just under 50% of his stake at €13.50 per share.

This gives a total of €27m.

The company also announced to the Irish Stock Exchange that head of Group Risk Asset Management Peter Killen retired from the bank yesterday.

Killen is to sell 700,000 shares, while fellow director John Rowen is selling 237,500 shares.

The total sale represents less than 1% of the bank's share capital.

Commenting on the retirement of Peter Killen, Sean FitzPatrick, Group Chief Executive said: "His stewardship and wise counsel has been invaluable in the development and prosperity of the Bank."