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Image: Eamonn Farrell/Photocall Ireland

AIB announces David Duffy as new CEO

Duffy will take up the job in December. The bank has said that his remuneration package will be ‘in line with Government guidelines’.
Nov 22nd 2011, 5:47 PM 3,012 27

AIB HAS ANNOUNCED David Duffy, the former head of Standard Bank International, is to be its new chief executive.

Duffy will take up the job in December.

In a statement, the bank said that his remuneration package will be “in line with Government guidelines,” which means a pay cap of €500,000. AIB is owned almost entirely by the Irish State.

Minister for Finance Michael Noonan has welcomed the appointment as Duffy, noting that the government had wanted to recruit a CEO “of the highest calibre so as to yield the best possible return to the taxpayer”.

Duffy (50) has held a number of senior roles in the international banking industry. Prior to becoming CEO of Standard Bank in London in 2006, he worked for almost a decade in ING Barings.

From 1987 until 1997 he worked for Goldman Sachs in Europe.

Duffy attended Terenure College in Dublin and is a graduate of Trinity College Dublin from which he received a Bachelor of Business Studies in 1984.

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Christine Bohan

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