Monday November 23, 2020

Bonus ban could scupper AIB’s bid for Goodbody

AIB’s falling share price and a ban on paying bonuses to executives while cutting staff numbers are cited as obstacles to the deal

Ian Guider

Markets Editor

22nd November, 2020
AIB had controlled Goodbody until 2011 when it sold the company for €24 million to Fexco

Political opposition to AIB acquiring Goodbody Stockbrokers while at the same time embarking on cost cutting could scupper the deal, senior banking sources have said.

A number of bankers have said that it was surprising that AIB would want to acquire the high costs associated with Goodbody at a time when profitability in the sector was only moderately growing.

The bigger issues, several senior bankers told the Business Post, was how a deal could be...

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