Michael Somers

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Michael Somers, the former National Treasury Management Agency chief executive who was appointed to the board of AIB in 2010 as a non-executive director stepped down  last month

The Government will no longer appoint public interest directors to bailed-out banks, after the final two ministerial nominees on boards of Irish lende(...)

Dr Michael Somers is standing down from the board of AIB having been appointed in 2010.

AIB’s deputy chairman, Dr Michael Somers, will stand down from the company at the end of this month. Dr Somers, who is also an independent non-execut(...)

Nama Land: the part-built Anglo Irish Bank HQ, on the River Liffey in Dublin, in 2011; the finished building is now occupied by the Central Bank of Ireland. Photograph: David Sleator

The National Asset Management Agency was created in 2009 to help contain the spiralling fallout from Ireland’s property crisis. It was to be the State(...)

Capt Peter Kelleher reading the Proclamation at the GPO, Dublin, last year. Photograph: Maxwells

Hovering around the very successful 1916 centenary commemorations last year was a silent paradox. The celebration of Irish sovereignty was f(...)

Dr Michael Somers succeeds Des Lamont following the completion of Mr Lamont’s two-year term leading the board. Photograph: Eric Luke

Former chief executive of the National Treasury Management Agency (NTMA) Michael Somers has been appointed president of the Institute of Directors in (...)

AIB chief executive Bernard Byrne: his basic salary increased by 4.3 per cent to €500,000, the maximum allowed under the Government’s salary cap

The total remuneration paid by AIB to its directors last year fell by more than 6 per cent to just under €2.5 million, in spite of increases in the ba(...)

AIB’s headquarters in Ballsbridge. The bank said on Monday it will hold an egm on December 16th  to seek shareholder approval for its new capital reorganisation plan. (Photograph: Eric Luke / THE IRISH TIMES)

AIB shareholders are to vote on the bank’s new capital re-organisation, which will see the value of their shareholding in the bank almost wiped out, (...)

Speaking at the Oireachtas Banking Inquiry on Thursday, Michael Somers, who retired as NTMA chief in late 2009, said he was in the US   on the night of the bank guarantee decision and  found out about it via a text message.

The then chief executive of the National Treasury Management Agency only found out about the State’s decision to issue a blanket bank guarantee on the(...)

Brendan McDonagh, former finance director of the National Treasury Management Agency and now chief executive of the National Asset Management Agency, giving evidence at the Banking Inquiry on Thursday, July 9th. Screengrab: Oireachtas TV

The National Treasury Management Agency was “always sceptical” of the business models of Irish Nationwide and Anglo Irish Bank, particularly their hea(...)

Derek Quinlan speaking at the Oireachtas banking inquiry on Thursday

Irish financier Derek Quinlan did not believe there would be a property crash in Ireland until Lehman Brothers collapsed in September 2008. Speaking a(...)

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