Bramble to step down from Allfirst immediately

AIB said today the retirement of Mr Frank Bramble, chairman of AIB's troubled Allfirst unit, will take effect immediately as …

AIB said today the retirement of Mr Frank Bramble, chairman of AIB's troubled Allfirst unit, will take effect immediately as opposed to from June 1st as previously indicated.

Mr Bramble has also decided to retire from the Boards of Allfirst Financial and Allfirst Bank with effect from April 30th.

A spokesman explained that the change in date was due merely to personal reasons.

Mr Bramble had first announced he was going to step down from his position when AIB announced the results of an independent report by Eugene Ludwig, who had been hired by AIB to gather information on how FX trader Mr John Rusnak cost the bank $691 million in currency losses.

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Although the announcement of Mr Bramble's retirement coincided with the Ludwig report, AIB has said Mr Bramble had no involvement in or knowledge of the improper conduct that took place in Allfirst's Treasury.