Allfirst chief Keating gets 12-month deadline - report
The chief executive of the US subsidiary of Allied Irish Banks has reportedly been given a year to turn the business around.
The deadline for Allfirst Financial boss Susan Keating comes after bank's £487m (€793m) financial scandal.
News of the ultimatum will be welcomed by shareholders, who were angry that she did not offer her resignation after the trading loss was revealed, says the Financial Times.
It's thought that if Ms Keating , working in parallel with Eugene Sheehy, newly appointed Allfirst chairman, cannot get the US business back on track within a year, then it could be sold.
Ms Keating was retained in order to avoid "destabilising" the US operation and alienating staff and customers, senior AIB staff said.
Also, she had only been in charge of the treasury business, where the fraud occurred, for 12 months - while the fraud had been under way for five years.
Shareholders complained about the lack of top-level scalp-taking two weeks ago, when six executives of Allfirst were sacked for failing to spot the rogue trades linked to trader John Rusnak, says the Financial Times.
