Bank clearout nearly complete

For too long, Sheehy stuck to a story that AIB was in a strong position on capital and funding and that a looming wave of bad debts would be unwelcome but nothing to worry about

2nd May, 2009

Let the hunt beg in for the man or woman who would have succeeded where Eugene Sheehy failed. The AIB chief executive discovered the hard way last week that being in the wrong place at the wrong time can, in today’s troubled world, me an you end up paying a heavy price.

Sheehy’s predecessor, Michael Buckley, was in situ during the €700 million Rusnak rogue trading fiasco, the Faldor executive tax dodge and...

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