Eugene J. Sheehy (born 1954 in

Carlow Carlow ( ; ) is the county town of County Carlow, in the south-east of Ireland, from Dublin. At the 2016 census, it had a combined urban and rural population of 24,272. The River Barrow flows through the town and forms the historic bounda ...

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

) was Group Chief Executive of

Allied Irish Banks Allied Irish Banks, p.l.c. is one of the so-called Big Four commercial banks in Ireland. AIB offers a full range of personal, business and corporate banking services. The bank also offers a range of general insurance products such as home, trav ...

Plc. He was educated at The Christian Brothers in Carlow and then Salesian College,

Limerick Limerick ( ; ga, Luimneach ) is a western city in Ireland situated within County Limerick. It is in the province of Munster and is located in the Mid-West which comprises part of the Southern Region. With a population of 94,192 at the 2016 ...

. 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 Capel Street is a street in Dublin, Ireland. On 20 May 2022, it was made traffic-free, following a campaign by people who wanted to improve the quality of life on the street. It is now the longest traffic-free street in Dublin. History Capel ...

, Dame Street and

Phibsboro Phibsborough (; ), also spelled Phibsboro, is a mixed commercial and residential neighbourhood on the Northside of Dublin, Ireland. The Bradogue River crosses the area in a culvert, and the Royal Canal passes through its northern reaches, not ...

ugh. He completed an M.Sc. in Organizational Behavior at

Trinity College, Dublin , name_Latin = Collegium Sanctae et Individuae Trinitatis Reginae Elizabethae juxta Dublin , motto = ''Perpetuis futuris temporibus duraturam'' (Latin) , motto_lang = la , motto_English = It will last i ...

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 is a former currency trader at Allfirst bank, then part of AIB Group, in Baltimore, Maryland, United States. On January 17, 2003 he was sentenced to years in prison for hiding US$691 million in losses at the bank in 2002, after bad b ...

. 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 on 12 May 2005 and assumed responsibility as Group Chief Executive with effect from 1 July 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

affair, foreign exchange overcharging and the Deposit Interest Retention Tax evasion issue. Sheehy retired alongside Chairman

Dermot Gleeson Dermot Gleeson SC (born 12 November 1949) is an Irish barrister who served as Attorney General of Ireland from 1994 to 1997. Educated in Blackrock College, Dublin and University College Dublin. Gleeson holds B.A. and LL.M degrees and qualif ...

and Finance Director John O'Donnell in 2009, following the Irish banking crisis.''Independent'', 3 March 2009
/ref> In October 2012, There was a Public outcry about 1 Billion Euro of Taxpayer's money being used to save AIB's pension fund and being used to finance his 529,000 Euro yearly Pension. This after during his tenure both AIB and its pension fund went bust and the taxpayer pumped in over 25 Billion Euro to save his bank.

References

See also