A round-up of today's other stories in brief.
Goldman Sachs chooses Blankfein
Goldman Sachs directors yesterday selected Lloyd Blankfein as chairman and chief executive after deciding not to split the two jobs.
The decision came after directors debated the merits of picking a non-executive chairman to help Mr Blankfein run the powerful Wall Street bank. Mr Blankfein succeeds Hank Paulson who was nominated on Tuesday to serve as US Treasury secretary.
People close the board said Goldman directors discussed splitting the roles, at least for a time, in order to provide a check on Mr Blankfein's power. The decision reflects a major vote of confidence in Mr Blankfein. - (Financial Times service)
KPMG award for Dermot Desmond
Financier Dermot Desmond was awarded a special recognition award for his outstanding contribution to Ireland's financial services industry at the KPMG Financial Services Excellence Awards. Bank of Ireland won the retail banking excellence award while Ulster Bank won the best business banking excellence award.
The awards were presented by the Minister for Finance, Brian Cowen. Addressing the ceremony, the Minister emphasised the Government's commitment to supporting the further development of the financial services industry.
In the funds sector, State Street, Irish Life Investment Managers won awards. In the insurance sector Transamerica, Eagle Star and Vivas Healthcare got awards. The KPMG awards judging panel was chaired by Mary Finan. Some 70 nominations were received across nine categories.
Iona elevate Ryan to the board
Iona Technologies, which provides and develops IT integration solutions for companies around the world, named Bruce Ryan to its board of directors. Mr Ryan will fill the vacancy created by the sudden death of William Burgess in February.
The new director, who will become chairman of Iona's audit committee, serves on the boards of Kronos Incorporated and KVH Industries.
Marathon win gas injection licence
Cork-based Marathon Oil, a subsidiary of US giant Marathon Oil Corporation, has won a licence to inject and store natural gas from third parties at its reservoir off the Kinsale coast during the off-peak summer months when demand is low.
The Commission for Energy Regulation granted Marathon Oil Ireland a natural gas storage license for the company's reservoir and storage facilities in the Celtic Sea. These facilities were previously used for seasonal production of Kinsale gas and were recently adapted to allow the storage of imported gas.
SSIA bid by Canada Life
Canada Life has introduced a new investment bond product geared at savers who are realising their investments in the SSIA scheme. The group said it expected €100 million to be invested in its new "active guaranteed bond", aimed at people who want a capital guarantee but access to the equity and property markets.
RDS profits increase
A report in last Saturday's editions stated that the RDS had reported an 18 per cent increase in profit last year. In fact, the society reported 18 per cent growth in revenue to €12.97 million. Profits before allowing for pension deficits and other adjustments were 48 per cent stronger at €2.1 million in 2005.
