Company secretaries cross bank lines

The Margin's man in the markets was intrigued by a recent disclosure by Bank of Ireland to the Stock Exchange that appeared on Reuters during the week. The disclosure related to a lot of money made on share options by a certain W.M Kinsella, described as "Company Secretary, Bank of Ireland Group plc".

The only problem was that W.M. Kinsella better known as Liam is actually company secretary of Allied Irish Banks. A certain bit of embarrassment in Baggot Street, with Bank of Ireland sending out a corrected version an hourand-a-half later, telling the market that the option had been exercised and sold into the market at a handy £130,000 profit by the bank's own company secretary, Terry Forsyth.

Conspiracy theorists, no doubt, would have a field day with this bit of confusion in Baggot Street. But the Margin is assured that Bank of Ireland's new chief executive, Maurice Keane, is not ready, just yet, to create an Irish mega-bank.