Eugene Sheehy
Encyclopedia
Eugene J. Sheehy was Group Chief Executive of Allied Irish Banks
Plc. He was educated at The Christian Brothers in Carlow and then Salesian College, Limerick
.
He joined AIB in 1971 when he was 17 years old and spent 20 years in retail banking, including branch manager appointments in a number of Dublin branches at Capel Street, Dame Street and Phibsboro
ugh.
He completed an M.Sc. in Organizational Behavior at Trinity College, Dublin
in 1992.
He executed a radical overhaul of AIB's branch banking operation in 1992 which entailed new and, in the view of many, unpopular changes to work practice. He also brokered a deal with staff to secure implementation. He was appointed General Manager, Retail Operations in 1999, and Managing Director, AIB Bank (Republic of Ireland) in 2001. He was appointed Chief Executive Officer of AIB's USA Division and six weeks later Executive Chairman-Designate of Allfirst Financial Inc in March 2002 when it was in melt-down following the activities of John Rusnak
.
Sheehy was appointed Chairman and CEO, Mid Atlantic Division, M&T Bank
, and to the Executive Management Committee and Board of M&T in April 2003, following the merger of Allfirst and M&T. Appointed AIB Group Chief Executive-Designate in March 2005, co-opted to the Board May 12, 2005, and assumed responsibility as Group Chief Executive with effect from July 1, 2005.
Sheehy has managed to avoid most of the controversy that affected his predecessors Michael Buckley, Tom Mulcahy and Gerry Scanlon at the bank. This included the John Rusnak
affair, foreign exchange overcharging and the Deposit Interest Retention Tax evasion issue.
Sheehy retired alongside Chairman Dermot Gleeson
and Finance Director John O'Donnell in 2009, following the Irish banking crisis
.
Allied Irish Banks
Allied Irish Banks p.l.c. is a major commercial bank based in Ireland.AIB is one of the so called "big four" commercial banks in the state. The bank has one of the largest branch networks in Ireland; only Bank of Ireland fully rivals it. AIB offers a full range of personal and corporate banking...
Plc. He was educated at The Christian Brothers in Carlow and then Salesian College, Limerick
Limerick
Limerick is the third largest city in the Republic of Ireland, and the principal city of County Limerick and Ireland's Mid-West Region. It is the fifth most populous city in all of Ireland. When taking the extra-municipal suburbs into account, Limerick is the third largest conurbation in the...
.
He joined AIB in 1971 when he was 17 years old and spent 20 years in retail banking, including branch manager appointments in a number of Dublin branches at Capel Street, Dame Street and Phibsboro
Phibsboro
Phibsborough , often formerly shortened to Phibsboro and later Phibsboro , is a district of Dublin in Ireland.-Location:Phibsboro' is located in the Dublin 7 postal district on the Northside of the city. The area is very close to the city centre, about two kilometres from the River Liffey which...
ugh.
He completed an M.Sc. in Organizational Behavior at Trinity College, Dublin
Trinity College, Dublin
Trinity College, Dublin , formally known as the College of the Holy and Undivided Trinity of Queen Elizabeth near Dublin, was founded in 1592 by letters patent from Queen Elizabeth I as the "mother of a university", Extracts from Letters Patent of Elizabeth I, 1592: "...we...found and...
in 1992.
He executed a radical overhaul of AIB's branch banking operation in 1992 which entailed new and, in the view of many, unpopular changes to work practice. He also brokered a deal with staff to secure implementation. He was appointed General Manager, Retail Operations in 1999, and Managing Director, AIB Bank (Republic of Ireland) in 2001. He was appointed Chief Executive Officer of AIB's USA Division and six weeks later Executive Chairman-Designate of Allfirst Financial Inc in March 2002 when it was in melt-down following the activities of John Rusnak
John Rusnak
John Rusnak is a former currency trader at Allfirst bank, then part of AIB Group, in Baltimore, MD, United States. On January 17, 2003 he was sentenced to 7½ years in prison for hiding US$691 million in losses at the bank, after bad bets snowballed in one of the largest ever cases of bank fraud...
.
Sheehy was appointed Chairman and CEO, Mid Atlantic Division, M&T Bank
M&T Bank
M&T Bank is an American commercial bank that was founded in 1856 in western New York, and today remains headquartered in Buffalo at One M & T Plaza...
, and to the Executive Management Committee and Board of M&T in April 2003, following the merger of Allfirst and M&T. Appointed AIB Group Chief Executive-Designate in March 2005, co-opted to the Board May 12, 2005, and assumed responsibility as Group Chief Executive with effect from July 1, 2005.
Sheehy has managed to avoid most of the controversy that affected his predecessors Michael Buckley, Tom Mulcahy and Gerry Scanlon at the bank. This included the John Rusnak
John Rusnak
John Rusnak is a former currency trader at Allfirst bank, then part of AIB Group, in Baltimore, MD, United States. On January 17, 2003 he was sentenced to 7½ years in prison for hiding US$691 million in losses at the bank, after bad bets snowballed in one of the largest ever cases of bank fraud...
affair, foreign exchange overcharging and the Deposit Interest Retention Tax evasion issue.
Sheehy retired alongside Chairman Dermot Gleeson
Dermot Gleeson
Dermot Gleeson is a barrister, former Irish government advisor and businessman born in Cork, Ireland in 1949. He is married with four children and lives in Dublin....
and Finance Director John O'Donnell in 2009, following the Irish banking crisis
2008–2009 Irish banking crisis
The 2008–2011 Irish banking crisis was a crisis in the Republic of Ireland which led to a number of financial institutions requiring government assistance, and subsequently led to a number of unexpected revelations about the private affairs of some banks....
.
See also
- Allied Irish Bank
- M&T BankM&T BankM&T Bank is an American commercial bank that was founded in 1856 in western New York, and today remains headquartered in Buffalo at One M & T Plaza...