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National Irish bankofficial is promoted

February 16, 2011

By Staff Reporter

By Andrew Bushe

DUBLIN – The chief executive of the troubled National Irish Bank during the row about the over-charging and offshore bonds scandals has been promoted in a management reshuffle

Grahame Savage takes over as managing director of the National Australia Group Europe.

Don Price, who joined the sister operation in Northern Ireland as chief operating office only four months ago, will replace him. He had previously been managing director of the Belfast Telegraph and had worked with Northern Ireland Railways and British Petroleum.

Ross Pinney, whose job Savage will take over, had been appointed executive general manager of products and services of the parent group and will be based in Melbourne, Australia.

Earlier this month, following internal investigations of

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overcharging, NIB said they would pay back £131,000 to 370 customers. The bank is still the subject of a number of probes including one involving two High Court appointed inspectors, former Supreme Court judge John Blayney and accountant Tom Grace. Their investigation has been delayed by legal challenges by bank staff about possible self-incrimination when they are questioned.

The bank is also under scrutiny from the Garda Bureau of Fraud Investigation, the Revenue Commissioners and the Central Bank.

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