Allied Irish Bank officials say they will centralise their management and treasury activities throughout the company in the wake of the scandal surrounding its US subsidiary Allfirst where an American currency trader allegedly ran up €850 million in losses.
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Interim Allfirst Treasurer Mr Pat Ryan will now report directly to the parent company. His predecessor, one of four Allfirst employees suspended pending the outcome of an internal investigation, had reported to the Allfirst CEO in Baltimore.
The bank has been criticised in the wake of allegations that Mr John Rusnak, a currency trader with Allfirst, had been able to run up the losses without internal checks noticing the problem sooner.
FBI spokesman Mr Peter Gulotta Jr says Mr Rusnak (37) has not been charged with a crime. He said a bank fraud and embezzlement investigation is continuing, and that his department is working in conjunction with federal prosecutors.
Ms Virginia Evans, a spokeswoman for the US Attorney's office, would not comment on the federal investigation, but acknowledged that it is ongoing.
Mr Gulotta said despite the vast sum of money involved, his department is treating this case no differently from lower-profile ones.
"It's like every other white-collar investigation," he said. "The only difference is that the amount of money is astronomical."
PA