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Allied Irish Banks to get internal exec team -govt

Source: Reuters - Fri 13th Nov 2009

No suitable external candidate has been found to take over as chief executive at Allied Irish Banks, Finance Minister Brian Lenihan said on Friday.

"No appointment of a chief executive can be made in those circumstances but some effective internal management team has to be put in place" said Lenihan, who has a say over appointments at the banks after a 3.5 billion euro bailout of the lender.

Rival Bank of Ireland, which got a similar bailout,was widely criticised earlier this year for choosing a new CEO from amongst its own ranks instead of bringing in a fresh face.

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