Who’ll stay and who’ll go in the bank clearout?

Bank directors are in the spotlight as financial institutions are required to make sure that their boards and senior managers meet tough new ‘fitness and probity’ standards, writes Jon Ihle

26th March, 2011

The Central Bank has given Irish banks a nine-month period of grace to clear their boards and senior management of legacy directors and executives before regulatory officials use new powers to remove them for being involved in the collapse of their institutions.

Tough new ‘fitness and probity’ standards put forward in a consultation paper last week will allow regulators to decide not only which candidates are fit and proper to hold top posts in the...

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