Lack of consultation on bank merger criticised

THE IRISH Bank Officials’ Association (IBOA) has criticised Irish Nationwide for the lack of consultation with staff on the proposed merger with Anglo Irish Bank.

Larry Broderick, general secretary of the IBOA, wrote to Irish Nationwide director of people, communications and change, George Alexander, seeking further details on the merger.

“I wish to place on record my extreme disappointment at the lack of information and contempt shown towards this union and our members in Irish Nationwide Building Society,” he said.

Mr Broderick also wrote yesterday to John Corrigan, the chief executive of the NTMA, complaining about the failure to consult with the union on the proposed merger. “It is extremely disappointing that there is still huge reluctance to provide IBOA with detailed information which is key to understanding the business plan for the restructuring and merger of the two organisations.”

Some 217 staff remain at Irish Nationwide following the transfer of €3.6 billion in deposits and 237 staff to Irish Life and Permanent.

The IBOA said that it had just over 60 members at the lender.

In his letter to Irish Nationwide, Mr Broderick sought details of the pay grades for staff in the merged entity and the future structure of the enlarged wind-down bank. He also asked for details of the board structure of the enlarged entity.

Mr Broderick advised Irish Nationwide that the IBOA would recommend that its members not co-operate with any aspect of the merger until staff are consulted.

A spokeswoman for Irish Nationwide said that discussions with staff representatives started on May 26th and that the next meeting would take place tomorrow with weekly meetings thereafter.

“Relevant and appropriate information is being shared with employees as it becomes available,” said the spokeswoman.