AIB estabish Toronto office

Allied Irish Banks plc has established a lending branch in Toronto, Ontario, having received final regulatory approvals from the Irish and Canadian authorities.

The new branch will engage in three areas of corporate lending across Canada: Energy and Project Finance; Real Estate; Leveraged Finance.

Daniel Simunac and Andy Shao have been hired to work in the Real Estate and Leveraged Finance sectors respectively. Rana Toukan has also joined to work on Energy and Project Finance transactions, reporting to Chris Gifford. In July, Tony O’Reilly will transfer from AIB’s New York branch to head Corporate and Leveraged Finance activity in Canada.

Chris Gifford, vice president and principal officer of the branch, said: “AIB is very happy to be closer to current and future clients and partner institutions in Canada. Establishing a branch to conduct banking business in Canada, rather than from our other locations, underlines AIB's commitment to expanding into key centres where our experience and approach can add value to the local market.”