Davy Stockbrokers is placing three million shares in Anglo Irish Bank on behalf of three members of management.
Retiring chief executive Sean Fitzpatrick is selling around two million shares, just under half of his stake, while Peter Killen, who is also retiring, is selling around 700,000 of his 1.6 million shares. John Rowen is selling 237,500 shares.
The bank announced Mr Killen's retirement from the board this morning. The shares being sold represent less than 1% of the bank's share capital.
Shares in the bank, which have recorded strong gains in recent months, closed 40 cent lower at €13.35 in Dublin this evening.
