AIB to radically overhaul its investment business

AIB declined to comment on media reports yesterday, that the bank was on the point of announcing major changes to its investment businesses.

The bank is understood to be examining options to strengthen its position in the lucrative life and pensions market, where its Ark Life assurance subsidiary has reported mixed performance in recent years.

Options open to the bank include buying a competitor, or entering into a strategic alliance over the distribution of products. The bank is also believed to be considering the sale of Govett, its British investment arm.