Financial Services

AIB creates new senior executive roles ahead of strategy update

Lender due to present strategy plan in March alongside 2023 earnings

CEO Colin Hunt said the MD of climate capital role "underlines the scale of our ambition to ensure a greener tomorrow." Photograph: Dara Mac Dónaill / The Irish Times Photograph: Dara Mac Donaill / The Irish Times logos logo

Joe Brennan
Fri Jan 19 2024 - 12:13

AIB chief executive Colin Hunt has moved to create three new executive committee roles, including that of managing director of climate capital, as he works on finalising a new three-year strategy, due to be unveiled with annual results in early March.

Mr Hunt told staff this week that a process to appoint the new head of climate capital is currently under way, as the group aims to increase is ability to fund significant sustainable climate-rated infrastructure projects, drive additional business growth and support the transition to a zero-carbon future.

“Recognising rising customer demand and the need to do more to help combat climate change, AIB announced last November that we are tripling our Climate Action Fund to €30 billion as we take further action to support the transition to a zero-carbon future,” Mr Hunt said in a statement.

“The appointment of a new managing director Climate Capital underlines the scale of our ambition to ensure a greener tomorrow through major investment in energy and climate action infrastructure both nationally and internationally.’’

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The bank also plans to appoint a chief customer officer to, as it puts it, “drive improved customer experience by better understanding customers’ behaviour and attitudes and using those insights to meet their evolving needs”.

Meanwhile, the bank has appointed Barry Field, previously chief of staff, as corporate affairs director to oversee “the bank’s engagement with internal and external stakeholders, a key role given the bank’s changing ownership structure and growing customer base”. It will involve Mr Field joining the executive committee.

“Our new three-year strategy is centred on better meeting our customers’ needs, further progressing our environmental, social and governance agenda and a relentless focus on operational efficiency,” said Mr Hunt.

Joe Brennan

Joe Brennan

Joe Brennan is Markets Correspondent of The Irish Times

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