AIB Picks Troubled-Loans Unit Head O’Connor to Lead U.K. UnitJoe Brennan
Allied Irish Banks Plc appointed Brendan O’Connor, head of its troubled loans unit, to lead its U.K. division.
O’Connor, who has headed up AIB’s Financial Solutions Group unit since 2013, will take up the role on Oct. 19, Bernard Byrne, AIB chief executive, said in an e-mail to staff this week. AIB spokeswoman Niamh Hennessy confirmed the contents of the e-mail.
O’Connor has worked at the lender for more than 30 years and will replace Steve Reid, who said earlier this year he was leaving. AIB’s U.K. unit had 12.8 billion euros ($14.6 billion) of loans at the end of June, accounting for more than 17 percent of the group’s total loan book.