First Trust parent AIB appoints new chairman
First Trust parent Allied Irish Banks has announced the appointment of a new chairman, who it said would lead the group through a "difficult period".
David Hodgkinson's role as director and interim executive chairman of AIB will see him manage the process of appointing a group chief executive.
Board members of the bank have stepped down after it received a further bailout from the Irish government.
Mr Hodgkinson has spent most of his career at HSBC, rising to group chief operating officer of HSBC Holdings in 2006. He retired from the company in 2008.
Since then he has been on the advisory board of business advisers PricewaterhouseCoopers, and the advisory board on Saudi Arabia for BAE Systems PLC, as well as lecturing on banking at the Moller Centre, Churchill College Cambridge.
Mr Hodgkinson said: "My objective is to work closely with all AIB stakeholders to tackle the serious challenges which confront the bank. We can take strength from the very strong franchise AIB enjoys in Ireland. Our success in this endeavour is important not only to the bank, but also in restoring Ireland's economic strength."