AIB chairman has mortgage at Bank of Ireland
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DAN O'Connor, the banker widely expected to be coronated as AIB's executive chairman, this week faces excruciating embarrassment as it emerges that he holds mortgages with AIB's main rivals Bank of Ireland and Bank of Scotland.
AIB declined to comment as to whether Mr O'Connor chose to borrow from Bank of Ireland and Bank of Scotland instead of the bank he joined as a non-executive director in January 2007.
Mortgage rate figures from spring 2008 show that Bank of Ireland was much cheaper than AIB for three- and five-year fixed-rate mortgages, with Bank of Scotland's mortgage armHalifax also providing much cheaper tracker loans for lower loan to values.