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office politics

Anglo Irish Bank... in the shredder

Bank staff are asked to get rid of all signs of the old name from their office space.

ANGLO IRISH BANK is to be officially renamed IBRC from next Monday – and bosses at the bank are anxious to get rid of all traces of its toxin-laden name. IBRC stands for Irish Bank Resolution Corporation.

This is a poster that has appeared inside the bank’s offices this week, advising staff to get rid of “your old Anglo stationery”:

The legacy of Anglo Irish Bank, or of Irish Nationwide Building Society (the board of IBRC is formed from the merger of both institutions) can’t be wiped away so easily, however. The payment of a €1m bonus to former Irish Nationwide chief Michael Fingleton in 2009 is still a matter of contention with Finance Minister Michael Noonan saying last month that he was still pushing for the bonus to be returned to the coffers.

Just this week, reported that at least 32 staff of the State-owned entity are being paid more than €200,000 a year. Information supplied to the Oireachtas Finance Committee showed that even that number did not include the 93 private contractors at the bank, whose earnings are not on the public record.

Remember this slideshow? Anglo Irish: Our D.I.V.O.R.C.E. is coming through today…

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