Mr David D'Alton, the director of Irish operations of the house building group, Abbey, has been suspended as an executive of the group because of a possible conflict of interest arising from his intention to establish a property development company.

Mr D'Alton had resigned as a director with effect from July 29th and as an employee with effect from September 30th, prior to his suspension. Abbey stated yesterday that it had initiated an investigation into whether any possible conflict of interest would arise.