AIB - will we ever be rid?

MadsL

The general manager of the AIB's strategic development unit has been granted a temporary High Court order preventing his dismissal from the company. Seamus Sheerin, who has worked with the bank since 1981, was informed two days ago of his dismissal.

He was one of a number of people being investigated by the bank in relation to their role in the foreign exchange overcharging controversy.

On March 9, Mr Sheerin says in an affidavit before the High Court today, he was informed of the conclusion that all of the allegations made against him were well founded. The disciplinary inquiry into his alleged misconduct was carried out by Aidan McKeon, the managing director of the AIB Group UK.


But Mr Sheerin says that when Mr McKeon was asked to investigate his alleged misconduct, he himself was the subject of unresolved issues in relation to the matter.

He said that only two other people had suffered any form of sanction as a consequence of the inquiry. And while he did not accept that he merited any disciplinary sanction, he said it could not have been any greater that the disciplinary sanctions suffered by another man who had his bonus frozen for two years..

Now for the violins....

Mr. Sheerin said that, apart from the damage to his reputation and the irreparable harm to his career prospects, he would now suffer irreparable loss as a consequence of losing his salary which works out at €10,000 per month. He said he needed his salary to survive and was the sole household earner.

I coulda been a contender....

He also revealed in his affidavit that he was recently a contender for the position of group chief executive at the company. He said that if there had been any concern about the bank having trust and confidence in him, at no stage would it have allowed him to return to his duties after being on what he terms a form of suspension, nor would the bank have asked him to apply for the position of chief executive.

The High Court granted Mr Sheerin a temporary injunction and the matter is due back before the High Court on Monday..

What a crock...Any chance we can get rid of these chancers without all this bleating. In the states the SEC would just throw them in jail.

Slutmonkey57b

Yes but that's a country where they have the decency to pretend everything isn't run on brown envelopes. The shameless chancer is far too much a celebrated part of the Irish character to be expunged that easily.

MrPudding

Every time I see thier cinema ad, you know Be excited, be far away and all that crap, all I can think of is Be robbed coming on the screen instead of Be with AIB.

MrP

Cork

People can now easily move their accounts. Seitching is now easier.

I was in a bank on Friday - 10 were in the queue. There was only one lady serving.

I was not in a bank for months and I was surprised how customer service standards have dropped.

growler

What exactly is wrong with someone trying to protect their job if they think they are being made a scapegoat in a biased internal investigation?

So what if he earns 10k a month, he wouldn't be paid that if AIB didn't believe that was the market rate for such a role, fair play to him for getting that salary. While the exchange rate overcharging was reprehensible, AIB still has a duty to its shareholders to mke a profit.

unless there is evidence of a criminal act by him , then he has a right to be treated fairly by his employer.

Gael

I'm glads someone started this thread. My local bank now only opens at ten whereas it used to be nine. They rob us blind, decrease they're services(unless you have internet access) and nothing happens except a rise in profits for them.
Well the only real reason I feel the need to have a bank account is because of the necessary convenience of ATMs. Other than that, I'd be well happy with the Credit Union. I hear that Credit Unions are planning to introduce ATMs as part of their services. If this happens soon, my dealings with the commercial banks will drop significantly. Where possible I will only use them where their services are available nowhere else.
No matter what some might say, you can vote with your feet. Even if everyone who had money in thier account in this country moved only one hundred euro each into a credit union account, the banks would feel the pinch. Believing you can do nothing about it, only makes their cartel more secure.

MadsL

What exactly is wrong with someone trying to protect their job if they think they are being made a scapegoat in a biased internal investigation?

I accept the case on the grounds of unfair treatment. I was perhaps a little harsh in that respect rethinking it. However the problem lies in the fact the regulators in this country need to grow a set of balls and a set of teeth (not to mention being given the power to use them)!

Sleepy

MadsL wrote:

I accept the case on the grounds of unfair treatment. I was perhaps a little harsh in that respect rethinking it. However the problem lies in the fact the regulators in this country need to grow a set of balls and a set of teeth (not to mention being given the power to use them)!

Problem with that MadsL is that we'd have no politicians left

growler

MadsL wrote:

I accept the case on the grounds of unfair treatment. I was perhaps a little harsh in that respect rethinking it. However the problem lies in the fact the regulators in this country need to grow a set of balls and a set of teeth (not to mention being given the power to use them)!

cheers MadsL, not too many here would ever bother to respond to that, and you're right proper regulatory powers would prevent (and subsequently) punish such actions.

Sad thing is most governments know that they are somewhat reliant on big business and will usually ensure the punishments for money making at the expense of an unsuspecting public less than harsh. and of course banking codes of practice will be written in a languange only the author can understand.