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

@ianguider
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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