AIB's "Chief Risk Officer" gets new job.

jetsonx

In view of the stellar job of forecasting risk with AIB, it's former "Chief of Risk", Pat Ryan is now joining Irish Life and Permanent.

This is a bit like the safety officer of the Titanic getting re-employed as a safety officer but on another ship.

Unbelievable.

http://www.rte.ie/business/2009/1106/ilp.html

P. Breathnach

Do you know what his record was like in AIB, or is this a matter of supposing that everybody who ever held a senior position there must be tainted?

xp90

P. Breathnach wrote: »

Do you know what his record was like in AIB, or is this a matter of supposing that everybody who ever held a senior position there must be tainted?

+1

But nothing like a good bit of AIB bashing on a Friday evening

old boy

well he was getting paid a head of risk, was it a position made for him, but he had no say in aib buisness, or had he a say, if he had a say, one need say no more, either way aib are not smelling of roses.

P. Breathnach

old boy wrote: »

well he was getting paid a head of risk, was it a position made for him, but he had no say in aib buisness, or had he a say, if he had a say, one need say no more, either way aib are not smelling of roses.

What does that mean?

Sponge Bob

It means that a bank which was worth €20-€30bn at peak then collapsed to a value of around €3bn which is about what the state put into it . That was because they had taken too much risk, in the form of dodgy loans to the likes of Liam Carroll, onto their books.

The titanic analogy is entirely correct with the one proviso that the captain may have been told to steam further south by the safety officer but chose to ignore the safety officer .