David Hodgkinson controversial British Banker AIB

Sceala Philosopher Location: Dublin

If AIB starts a run of calling in debts, consequentially destroying more Irish business and Irish family homes, we will at least know who is behind it.

The Irish government or Patrick Honohan must be assuming that employing UK citizens from the UK financial services, will put Ireland back on track.
Matthew Elderfield UK citizen regulates Irish business
How naive are the Irish government.
The British do not have any unique quality or answers to the current economic woes, on the contrary the UK has one of the most corrupt financial services in the world Corruption and theft of British banks and City of London
Imagine if it was Irish banks doing this!

The Irish Government are hiring from the very corrupt source mentality that designed the economic cycle of boom and bust, based upon greed and short term self interest.
The British disease of speculation. Unfortunately we injected ourselves with the deadly virus, that was our problem!

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The Irish government employing another foreigner, another UK Citizen, to take over our economy. He comes from a bank that was at the centre of the subprime storm that wrecked global economies.
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David Hodgkinson controversial British Banker new boss of AIB
This time they have employed someone who caused outrage to his own British people.
David Hodgkinson has a track record of treating his own national customers as secondary.

A Banker who outraged mortgage holders over his stance on interest rate cuts is Brian Lenihan's first choice for the top job at AIB.

David Hodgkinson, former chief operating officer at HSBC, had insisted Bank of England rate cuts would not necessarily be passed on to borrowers. The comments, made in 2008, angered then UK prime minister Gordon Brown and the public. Mr Lenihan has now reportedly decided Mr Hodgkinson is his preferred choice for the executive chairman's position at AIB. However, it is believed Mr Hodgkinson has yet to sign a contract with the National Treasury Management Agency, which is overseeing the appointment search.

Reports today said AIB's board has yet to approve the appointment of Mr Hodgkinson.
herald.ie/national-news/controversial-banker-for-aib-2393378.html

What real care will this controversial British Banker have for Ireland and the Irish people.

AIB's new executive chairman David Hodgkinson has told shareholders that while AIB's problems are difficult, they can be overcome.

He was speaking at an extraordinary general meeting to seek approval for the sale of AIB's 22% holding in US lender M&T in order to raise about €1 billion.

Mr Hodgkinson, a senior British banking figure, was appointed last Wednesday. Today, he expressed 'deep regret' to shareholders, many of whom have seen their savings destroyed as the stock has fallen from €23 to 34 cent.

In September, Finance Minister Brian Lenihan unexpectedly revealed that the bank would require significantly more state money because of higher than anticipated loan losses.

Mr Hodgkinson said today that AIB would launch a €5.4 billion capital-raising programme later this month, but it was 'highly likely' that the Government would end up owning a significant majority stake in the bank. He also confirmed that the plan would be structured to enable AIB to retain its stock market listing.

AIB also said this morning that its group managing director Colm Doherty had formally stepped down today from the bank's board. This follows the announcement in September which said that Mr Doherty would depart AIB before the end of 2010.

Mr Hodgkinson also told the EGM it would not be updating shareholders on its financial performance today, but would issue a trading update later this month.

AIB puts sale of UK businesses on hold

AIB has put the sale of its British businesses on hold after failing to get any decent bids, its new executive chairman said today. This could result in the state owning around 95% of the lender.

David Hodgkinson said the sale of AIB's business bank in Britain and its First Trust retail operation in the north of Ireland was on hold. The book value of the businesses is around €1.2 billion but its loan quality is weak.

'There was an attempt to sell it and it could not be sold on satisfactory terms. So, we are now going to work with the UK bank to try and strengthen it, stabilise it and we will start re-examining all the options for it,' Hodgkinson told reporters at the bank's EGM in Dublin today.

So far, AIB has managed to raise €3.4 billion from offloading its stakes in banks in Poland and the US.

It also emerged at today's meeting that Mr Hodgkinson will be paid €500,000 a year.

Shareholders today welcomed Mr Hodgkinson's appointment instead of somebody within the bank. One speaker it was like the arrival of Wyatt Earp in Dodge City.
rte.ie/news/2010/1101/aib-business.html
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The Shareholder are happy. Are these the same people who were happy to profit from the shares of a bank of high risk. The same ones who want us all to bail them out when they got stung.

Shareholders today welcomed Mr Hodgkinson's appointment instead of somebody within the bank. One speaker it was like the arrival of Wyatt Earp in Dodge City.
According to some accounts, Wyatt Earp was a cold and callous hired gunman of questionable morals.
For certain Wyatt Earp was selected by cowards afraid to do the dirty work themselves.

If AIB starts a run of calling in debts, consequentially destroying more Irish business and Irish family homes, at least the victims of this modern day Wyatt Earp will know who was behind it.

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