{"id":505716,"date":"2026-05-27T20:25:07","date_gmt":"2026-05-27T20:25:07","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/505716\/"},"modified":"2026-05-27T20:25:07","modified_gmt":"2026-05-27T20:25:07","slug":"aib-chief-financial-officer-donal-galvin-to-leave-bank-for-other-business-opportunities-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/505716\/","title":{"rendered":"AIB chief financial officer Donal Galvin to leave bank for \u2018other business opportunities\u2019 \u2013 The Irish Times"},"content":{"rendered":"

AIB <\/a>chief financial officer Donal Galvin is to leave the bank, raising fresh questions about bonus restrictions at the lender.<\/p>\n

Galvin will leave to pursue \u201cother business opportunities\u201d, AIB said in a statement on Wednesday. He stepped down from the board on Tuesday but will stay with the bank \u201cto ensure a smooth handover of responsibilities\u201d including for its half-year results announcement, scheduled for July 30th.<\/p>\n

\u201cDonal has made a significant contribution to the group during his 13 years with AIB,\u201d chief executive Colin Hunt<\/a> said. \u201cHe played a key role in the return of AIB to full private ownership and the repayment of \u20ac21 billion to the Irish State. He has greatly advanced the financial resilience and capital strength of the group.\u201d<\/p>\n

\u201cThe time is right for me personally to pursue other career opportunities, and I am pleased to leave AIB in such a strong financial position,\u201d Galvin said in the statement.<\/p>\n

AIB shares fell 0.8 per cent after the announcement of Galvin\u2019s departure. <\/p>\n

A process to appoint a permanent successor will commence immediately.<\/p>\n

Galvin joined the bank in 2013 as group treasurer before becoming chief financial officer (CFO) in 2019. Before AIB, he had held senior positions in Rabobank and Mizuho Securities, among others. He joined the AIB board in 2021. <\/p>\n

\u201cDuring his tenure, Galvin oversaw a marked strengthening of AIB\u2019s capital base,\u201d Goodbody<\/a> analyst Denis McGoldrick wrote in a research note. \u201cHe played a central role in enhancing balance sheet resilience, underpinning consistent CET1 strength and delivering a credible capital return story in public markets. His stewardship also improved AIB\u2019s positioning with equity and debt investors alike, with stronger capital discipline and transparency contributing to a re-rating of the franchise.\u201d<\/p>\n

[\u00a0AIB new lending grows 11% as bank sees \u2018very little\u2019 Middle East impactOpens in new window<\/a>\u00a0]<\/p>\n

Galvin\u2019s decision to leave was not expected, and is likely to be seen as evidence of the damage continued restrictions on pay are having on Irish lenders\u2019 ability to retain staff. <\/p>\n

While the Government has lifted a \u20ac500,000 limit on salaries for top executives at the former State-owned lender, bonuses of more than \u20ac20,000 are still subject to an 89 per cent super tax. That can only be removed by statute, making it more difficult to do so. <\/p>\n

\u201cPay constraints in the domestic banking system have long featured as a challenge to executive retention,\u201d analysts at Davy Stockbrokers<\/a> including Diarmaid Sheridan wrote in a research note. \u201cThe regulations governing variable remuneration from the European Banking Authority have strengthened significantly since the special bonus tax was introduced.\u201d<\/p>\n

Galvin is likely to be in demand for a new role. Mark Bourke, his predecessor as AIB CFO, moved to Portuguese lender Novobanco in 2019 before becoming chief executive in 2022. <\/p>\n","protected":false},"excerpt":{"rendered":"AIB chief financial officer Donal Galvin is to leave the bank, raising fresh questions about bonus restrictions at…\n","protected":false},"author":2,"featured_media":505124,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[73],"tags":[624,79,109750,28197,18,139652,19,17],"class_list":["post-505716","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-aib","tag-business","tag-colin-hunt","tag-davy-group","tag-eire","tag-goodbody-stockbrokers","tag-ie","tag-ireland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116648419519495006","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/505716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=505716"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/505716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/505124"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=505716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=505716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=505716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}