AIB has appointed former Comptroller and Auditor General Lauri McDonnell to head an independent investigation into its overcharging of some foreign exchange customers over the past eight years.
A statement from AIB said Mr McDonnell would take up the post immediately, and would have access to external audit expertise. His appointment has been approved by the regulator IFSRA. The probe is expected to be completed by mid-June.
The Irish Bank Officials' Association welcomed the appointment. General secretary Larry Broderick said he looked forward to the report's being shared with the union and staff. He repeated that there should be no attempt to scapegoat junior staff arising from the process.
Earlier this week it emerged that AIB had placed a deposit of €25m with the Central Bank to cover repayments due to customers as well as interest.
