AIB recruits Colin Hunt and promotes Donal Galvin ahead of IPO

AIB has recruited experienced banker Colin Hunt to become managing director of wholesale and institutional banking from September 1st.

Mr Hunt has been poached from Australian corporate advisory group Macquarie, where he was managing director of its operation in Ireland, having joined the company in late 2007.

His experience in introducing opportunities in Ireland to global institutional investors should prove valuable in his new role.

He was an adviser on the privatisation of Aer Lingus and the sale of the Great Southern Hotel chain during his time in the department of transport.

In addition, he acted as an adviser to Singapore group STT when it invested in Eircom in 2009 and on the sale of insurance, healthcare and life assets from the Seán Quinn’s group of companies.

Group treasurer

Mr Hunt also led Macquarie’s main investment in Europe in 2012, which was with Irish company Mainstream Renewables.

The Irish Times has learned that his appointment will be announced today, along with that of Donal Galvin as group treasurer.

Mr Galvin has been head of treasury since August 2013 and has played a key role in AIB’s successful return to the wholesale debt markets in the past couple of years.

Both of these appointments are significant in the context of the State’s plan to sell 25 per cent of AIB on the stock markets in Dublin and London, probably in 2017.

They will join AIB's leadership team, which already comprises AIB's chief executive Bernard Byrne, chief financial officer Mark Bourke, group general counsel Helen Dooley, Brendan O'Connor, who leads its UK operation, chief risk officer Dominic Clarke, Robert Mulhall, its head of retail, corporate and business banking, chief marketing officer Tom Kinsella, Jim O'Keeffe, head of its financial services group, and chief operating officer Tomás O'Midheach.

AIB declined to comment on the appointments last night.

This will bring Mr Hunt back into the AIB fold, as he previously held senior roles with Goodbody Stockbrokers when that institution was owned by the bank.

He was also a former special adviser at the departments of finance and transport between late 2004 and mid-2007 and head of trading research at Bank of Ireland Treasury.