AIB rejects executive’s claim

AIB has rejected allegations by an executive who has gone to the High Court seeking to prevent his dismissal from the bank over his alleged role in foreign exchange overcharging.

On Friday, counsel for Séamus Sheerin, general manager of the bank’s strategic development unit, claimed the 41-year-old is being scapegoated by the bank. He was told in a letter from his employers this week he should be dismissed. But in details of his affidavit published yesterday, Mr Sheerin claims two senior AIB executives were in charge when an exchange regulation was breached, implying they must have known about it.

In a statement issued last night, the bank disagreed with Mr Sheerin’s representation of the investigation and disciplinary process undertaken in relation to the foreign exchange issue.

“AIB rejects the allegations made by Mr Sheerin against other senior executives of the bank. This includes the specific allegations made against the named individuals,” it said.

The bank said the investigation into the overcharging was thoroughly independent. High Court Justice Iarlaith O’Neill granted Mr Sheerin’s application for an order seeking to prevent his dismissal on Friday.