Allied Irish Banks Loses Two Directors (AIB, MTB)

It is almost routine now that Allied Irish Banks plc (NYSE: AIB) trades lower.  Whether it is ongoing fears about Ireland as a whole or whether it is a fear that the bank will have to raise even more cash, fears over whether it will ultimately implode, and/or face nationalization, there is some new information to digest in the form of management changes.  Robert G. Wilmers and Kieran Crowley have both tendered their resignations from the board of directors.

Wilmers will resign with immediate effect, while Crowley will resign on October 13.  Kieran Crowly is a consultant and consultant and founder of Crowley Services Dublin Ltd..  Robert Wilmers, 75, is Chairman and Chief Executive Officer of M&T Bank Corporation (NYSE: MTB).

The news has had no real impact here on Allied Irish Banks’ shares.  The stock is up 0.75% at $1.36 on above average volume of 4.16 million shares.

JON C. OGG