THE managing director of AIB Corporate Finance Ms Caitriona Murphy will take charge of the bank's preparations for European Monetary Union. She will be replaced at AIB Corporate Finance by Mr John O'Donnell, who will retain his current position as managing director of AIB International Financial Services.
The changeover will take place in mid December. AIB is setting up a new EMU planning unit to ensure there is a coordinated approach to the issues involved in the move towards EMU. The unit, which will be within the bank's capital markets division, will plan and co ordinate group preparations for EMU. Its tasks will include finding and developing new business opportunities for generating income to replace foreign exchange earnings lost within EMU and minimising the cost of conversion for, AIB.
Ms Murphy (49) has worked in corporate finance for eight years, five of those with Goodbody Stockbrokers before taking responsibility for the merged Goodbody/AIB corporate finance operation.
Mr O'Donnell joined AIB International Financial Services in 1989 and became managing director of the division in 1995. He joined AIB from ICC Bank.
