Compliments of the Season Hr Usnw Eiwseilfcsiboa Special Focus Newsreview Short Cuts 2

DECEMBER 2011

COMPLIMENTS OF THE SEASON HR USNW EIWSEILFCSIBOA SPECIAL FOCUS NEWSREVIEW SHORT CUTS 2

BOA THE F NANCE UN ON www boa e SPECTRUM Spectrum is published by IBOA The – Finance Union, [email protected] www.iboa.ie www.iboa.org.uk IBOA House, Stephen Street Upper, Dublin 8 Spectrumis printed on recycled paper and wrapped Antrim, Northern Ireland. Communications Manager: Séamas Sheils for posting in oxy-degradable poly thene at W & G Baird, Advertising enquiries to Anna O’Doherty and 29, Malone Road, Belfast. BT9 6RU. Honorary Secretary: Tommy Kennedy or Louise O’Donnell in IBOA House. Telephone: 00353-1-4755908 and General Secretary: Larry Broderick 0044-28-90200130

has decided. £747m, the British Governmentis to be sold to Virgin TheMoney nationalised for Northernshorts Rock ON THEROCK VIRGIN TAKES Summit in Cannes. ranalongside the G20 Leaders Labour 20 (L20) Summit which PresidentSarkozyas met Union part Globaldirectof the UNI tary, PhilipJennings, General Secre- G20 JENNINGS AT december 2011 december See Page 7 See Page 4 customers. sexist attitudesBritish towards banks still holdfemale Accordingdeeply to research many SEXISM CHARGE UK BANKS FACE and Asia. banks from – the US, important systemically Europe 29 releaseda list of the world’s BankingSupervision on Committee Basel recently The TOO BIG TO FAIL women directors EUon Commission bank boards. areNew seekingproposals morepublished by the BOARD WOMEN ON EU WANTS MORE See Page 9 See Page 5 See Page 8 • • • NEWS REVIEW • • • • • IBOA NEWS • • • • • SPECIAL FOCUS Europe’s Bacon Gender bias in global Growth is the Key - ICTU traders Rough trade for rogue workplace Steve Tweed to leave IBOA Youth Committee fundraiser Kerry Christie tribute New courses in train of IBOA out soon Handlling Change: history Safety Reps cost effective Stress at Work Reforming banking culture Whistleblowers Softening the Blow for Anglo Rescue: Saving See Pages 10-17 See Pages 28-37 See Pages 18-27 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

WORK AGENDA • Future uncertain for Irish banking • New relationship at NIB • Intense talks at Northern • No talks yet at AIB • Ulster developments • Stalemate at BOI See Pages 38-45

LIFE & STYLE • Flourishing with Maureen Gaffney AIB’s new Chief Executive, David Duffy. • Why not toys for tots? www boa org uk • Upcoming sports and social events • Learning to get your message across Bankcentre’s latest See Pages 46-53 AIB’s new Group Chief Exec- the Bank as its non-executive “Staff in AIB have been utive Officer is David Duffy – Chairman. told repeatedly for over 20 the former CEO of Standard The search has been the months that AIB will be scaled Bank International. subject of much media down and since April they

Aged 50, Mr. Duffy has speculation over the issue of have had the axe of over www boa e previously worked for Gold- compliance with the Govern- 2,000 redundancies hover- man Sachs and the ING ment’s E500,000 annual ing over them – but with no Group. salary cap. indication of where, when His appointment follows Mr. Duffy faces a very and how deeply it might fall. a year-long search for a challenging task in co-ordi- “I hope that with the successor to the Bank’s nating the recovery of AIB. new executive leadership in former Managing Director, IBOA General Secretary, AIB will now work with IBOA Colm Doherty. Larry Broderick, has welcomed to rebuild staff morale which ARTS & LEISURE The search was led by the appointment of David will be vital to restoring AIB • Banking on art the Bank’s interim Executive Duffy as the final piece in the to full health so that it can • Close to the Heart Chairman, David Hodgkinson, executive jigsaw in Allied once again contribute to the • Sports Quiz who is likely to remain with Irish Bank Group. economic recovery. • Crossword, • Sudoku and Picture Board Cover Picture: Irish international rugby star, Gordon D’Arcy, pictured with Libby (5) and Rory Gorman (9) from • UltraViolet Blackrock after he turned on the Christmas lights in Dublin’s Henry Street recently. Gordon’s father, John has been See Pages 54-63 a long-standing member of IBOA The Finance Union, as a former employee of Bank of Ireland in Wexford

(Photo:Leon Farrell/Photocall Ireland). F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM number of charitableIBOAhas decided tomake donations a charity donations to Union to make e-mail. sendelectronic greetings by to the Irish includingCancer grants Society – yearthis and greetings cards by post. sendinginstead seasonal of Care Cancer Curie Marie to However,the Union isto Best wishes Christmas and a brighter 2012. as an essential element. encyand with job retention avoidingshort-term – expedi- fashion structured and Irishbanking inameasured recovery of promoting the by financial sector services the interests of workerspledged tostrive intoprotect the portof its members, IBOA is tinuedandcommitted sup- challenging. 2012promises to generally,be equally economy the in ongoing crisis in bankingtheserviceswakeofthe in and financial the in staff many for difficult year very a be the Union is fighting tofeel atresist. this and time which – pressureing many members brief respite from the unrelent- pliments of the Spectrumseason. wishallourmembers and Union Finance The IBOA of staff Executive and Committee Officers, The e ih o a joyful a you wish We However, con- the with While 2011 has proven to The holiday break offers a from IBOA readersthe com- december 2011 december • • take the following steps: structively by putting employment at the heart chance to get it right. chance, UNI Global Union has demanded they of the recovery and a new deal on the table for theG20leaderson missnottothissecond or stand up to big business. thenthe G20 has lost its way and has so far the people. leaders brought a message to Sarkozy, calling Summit in Cannes. whichran alongside the G20 Leaders (L20) Summit Labour 20 the of part Elyséethe Palace Paris recently in as Global Union met President SarkozyPhilipJennings, at General Secretary, UNI Remy Steinegger). Global Union FederationCannes(Photo: GeneralDelphine Secretary,Bedel/Oxfam Above:Oxfam stages demonstrationaInternational). PhilipattheG20 summit JenningsinRight: UNI(Photo: case to G20 Jennings takes wasaflurry of co-ordinated activity but since been unable to provide the leadership required They urged the G20 to tackle the crisis con- f h G0 at t tk ti second this take to wants G20 the If After the financial crisis broke in 2008 there Jenningsotherandleading trade union Push for businesses to start re-investing and mentality among finance sectorStopthe“business bosses.andbonus” usualas answered in a positive manner,”for he tomorrow. said. This growingdisenfranchised unrest been needs have theyfrom to feel whobesociety peopleordinary and have no hopeallovertheworld authentic are an voiceof tank cohorts,” said Jennings.the business and politicaltract elites has been and systematically their think- socialtorn to orderpieces bycreated in the post-war social con- Jennings. stronger G20 policies for socialenhance cohesion” social said protection, unemployment worldwide, and youth workers’cut rights and President, for a co-ordinated pressed“We President Sarkozy, G20 the as plan which would • • • • “Thewave of protests which are growing “Thefinancial crisis has revealed that the conditions across markets. Develop global solidarity and fairIntroduce working a financial transactionsClose taxtax. havens which fuel inequalities.poor and the rich is redressed.Ensure that the wideningfocusing gap betweenon job creation. the NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Prime mover in UK: Sir David Walker of NBNK Investments NBNK aims to make mark in British banking NBNK Investments plc is now actively seeking to establish a presence in British retail banking. The investment vehicle recently made a £1.5bn bid for the 632 branches which Lloyd’s is required to sell by the EU Commission in return for the extensive State support www boa org uk Too big too fail: the top 29 for the group since the onset of the crisis. As part of the deliberations surrounding • Barclays (UK) NBNK is also reported to have entered exploratory talks the recent G20 summit held in Cannes, • BNP Paribas (France) with National Australia Bank the Basel Committee on Banking Super- • CitiGroup (USA) (NAB) about the possible vision has released a list of the world’s 29 • Commerzbank (Germany) acquisition of NAB’s Clydes- systemically important banks that will be • Credit Agricole (France) dale and Yorkshire banks – required to raise their core tier 1 capital • Credit Suisse although it is not yet clear if ratios by between 1% and 2.5% above the • Deutsche Bank (Germany) they are up for sale. The

7% specified in the Basel III agreements. • Dexia (Belgium) Australian group may yet www boa e The list includes 8 US banks, 17 Euro pean • Goldman Sachs (USA) decide to expand its interests banks, 3 Japanese and one Chinese. • HSBC (UK) in the UK. Meanwhile the Financial Stability Board • ING (Netherlands) NBNK’s interest in Lloyd’s – established by the G20 in 2009 – is also • JPMorgan Chase (USA) is understandable since the pushing banks to improve their internal • Lloyds Banking Group (UK) investment group is led by supervisory regime and for governments former Lloyd’s Chairman, • Mitsubishi UFJ (Japan) to safeguard taxpayers when bailing out Lord Peter Levene, and the • Mizuho FInancial Group (Japan) institutions deemed too big to fail, while former Lloyd’s Deputy Chair- also figuring out how to resolve various • Morgan Stanley (USA) man, Sir David Walker, who cross-border issues. • Nordea (Sweden) has also served previously • Royal Bank of Scotland (UK) as Chair of Morgan Stanley The ‘Too Big’ 29 • Société Genérale (France) Inter national. • Banco Santander (Spain) • State Street (USA) Walker also conducted a • Bank of America (USA) • Sumitomo Mitsui Banking Corp. (Japan) recent review of corporate • Bank of China (China) • UBS (Switzerland) governance in British bank- • Bank of New York Mellon (USA) • Unicredito (Italy) ing for UK Prime Minister, David Cameron. • Banque Populaire (France) • Wells Fargo (USA) F THE UN NANCE BOA ON

december 2011 SPECTRUM 5 HR USNW EIWSEILFCSIBOA SPECIAL FOCUS NEWSREVIEW SHORT CUTS 6

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM summer. next Australia to return to is RBS’sretail and wealth divisions responsibilityalsowhohas for UlsterBank chief, Brian Hartzer, Hartzer to leave RBS/Ulster at f h ta restructuring team the of RBS”part Hester, described Hartzer as a “valuable ANZ Bank’s Australian previously having ago headedyearsbusiness division. Zealand, Fiji and Samoa. firstbank”butalso operates Newin which promotes “Australia’s itself as Westpac(formerly Western Pacific) – within services financial Australian of division created newly the lead

B Cif xctv, Stephen Executive, Chief RBS

National Sea Life Centre, Bray Seafront, Bray, h American-bornThe Hartzer will ra Hrzr ond B three RBS joined HartzerBrian Offers may not be used in conjunction Co. Wicklow. Tel. 00-353-1-2866939 For families: Special Offer for for family of 4 (normal price with any other offer or promotion. Save IBOA members ¤ 3 off full admission price www.sealife.ie For individuals: Supersaver deal of december 2011 december ¤ 35) ¤ 20 the last year. already announced by Westpacredundancies770totalof a backof during prise Testing Services division.outsource188IT jobsfromits Enter- recent announcement thatUnion it isintends more concerned to at Westpac’sladders, Australia’s Financial Services pre-occupied with executive snakes and contract falls due for reviewExecutive, in Kelly, Gail 2013. whose five-year eventual successor Westpac to Chief recruited with a view to becomingspeculating the that Hartzer may have been business in good health.” adding that he will “leave the UK retail Thislatest proposal comes on the However, rather than becoming too Bankingobservers in Australia are mechanism. enraged becausestill highlywasentangledit the in emerged – penser becometrapped insidecashthe dis- bank on his way to work. used the ATM outside the Caja Madrid of Llodio got more than cash when he Abank customer in the Basque town Customer startled by reptile at ATM Snake inthePASS? fe eetal mngn to managing eventually After had which – serpent omery An Brian Hartzer heading back to Australia. bank was located in a remotehadbecome area.trapped itselfbythe as possiblethatthe inquisitive ophidian thesnakethe inATM, wasitequally possible that a cruel prankster had put shelter. animal an to it manager tookbank ATMfrom theinside, theresourceful activating the reptile by release the Localpolice said that while it was NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

King seeks further powers over banks

The Governor of the Bank of England, Sir Mervyn King, is seeking sweeping powers for the UK’s new Prudential Regulatory Authority (PRA) to enable it to force banks to implement changes – even when they are complying with written guidelines – if, in the opinion of the PRA, they were taking on too much risk. Addressing MPs involved Richard Branson (Photo: Virgin Money) in drafting new legislation to regulate the financial services sector, King expressed concern that if the regulator did not have these additional Virgin on the Rock powers, the banks would find a way round the guidelines – Northern Rock is to be sold Northern Rock was sub- after injecting £1.4bn into not least because it would be to Virgin Money for £747m, sequently split into two Northern Rock plc. impossible to frame rules that the British Government has parts – Northern Rock plc, In addition to the up- would cover every eventuality. decided. and Northern Rock (Asset front payment of £747m, a King also told the MPs Northern Rock plc will be Management), which con- further return of £280m may that the financial regulators rebranded as Virgin Money. tains the original bank’s bad also accrue over the next few should be accountable to which has committed that debt. years. Parliament and the public – there will be no compulsory Virgin Money is acquiring Meanwhile the scale of rather than to the financial job cuts for at least three the “good Bank.” the potential losses at the “bad services industry. www boa org uk years among its current Commentators have esti- bank” is still uncertain. It still In a separate development staffing complement of 2,500. mated that the British Ex- owes the Exchequer £21bn. British MPs have demanded Nationalised in 2008 after chequer would end up with a Virgin Money is part of the right to veto the appoint- its near collapse at the start “paper” loss of somewhere Sir Richard Branson’s Virgin ment of future governors of of the global credit crisis, between £400m and £650m Group. the Bank of England. www boa e

Hyho Travel provides a Travel will donate between range of special deals for 10% and 20% of its agency IBOA members. commission to a charity, Check the IBOA web- school, club or community site for details of the latests organisation of your choice offers on holidays for desti- at no extra cost. nations worldwide, as well Check the latest offers as specialised golf trips and through www. iboa.ie/s/7 or sports packages. www.iboa.org.uk/s/7/. For every booking made You’ll need your IBOA on the Hyho site or via our membership number to log dedicated call centre, Hyho on! BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 7 HR USNW EIWSEILFCSIBOA SPECIAL FOCUS NEWSREVIEW SHORT CUTS 8

BOA THE F NANCE UN ON www boa e www boa org uk hedge funds. private companies equity and level of the banks’ investmentaccount asin – well own bank’sas the limits on shares in on the “proprietary tradingtrading” – al tet ee publishedrecently. were These Streetinclude a banWall on on risk-taking excessive curb SPECTRUM Government’s US thelatest of attempt elements key to The on US banks New limits over 700 staff in Ireland. MBNA Europe which employs– America’scredit card business, privateequity the firms of bidding one foradvising Bank of four years ago, is reportedChief to be Executive when garth,it collapsed who was Northern Rock’s thenationalised for bid bank. a entered which privateequity firm, J. C. theFlowers,European operations of US the bids for Northern Rock. flictof interest while it assessed H.M. Treasury to avoid any con-down step temporarily to had as whoMcCarthy, a director of Callum Authority,Services Sir chairman Britain’s of Financial by the recent case of the formerregulated in the UK is illustratedregulatory authorities the and The revolving door between the turned poacher Gamekeeper enhl, dm Apple- Adam Meanwhile, McCarthy is also the chair of Sir Callum McCarthy december 2011 december among its fourteen women four with directors.standard – alsofalls short of the proposed representatives in total. ten-member board is all-male, its board the of onamong sits six woman men. one just Danske’s Board representatives. employeehasare five employee with its currentalmost totalmeet the ofproposed Danish parent,four Danske, would quota women Bank of Ireland is female while – Allfour female board directors.members thirteen its among Ireland and Britain. mostof the banks operating in of boards thecomposition the of to made be to changes major force wouldproposals sector financialsince 2008. global the afflicted factors behind the crisis thatidentifiedmajortheofone as has prevent the “group think” oftenbelievesthe compulsory.change He would be help to quota Michel Barnier, wantsInternal thisMarkets genderCommissioner, be women. onthe boards ofbanks should in future one thirdEU Commissionof the aredirectors seeking thatNew proposals published by the boards on bank EU wants more women Irish boards would change on gender quota Draft directive ltr aks aet RBS, parent, Bank’s Ulster Only one of nine directors at Barnier the introduced, If the directive draft from A lhuh oten Bank’s Northern Although Barnier. Commissioner, Michel MarketsEU Internal member, Rose Hynes Bank of Ireland board UK operation. Santander’s of CEO Botin, Patricia Ana intelligence of a group.” a positive impact onmore boardthe meetings collectiveand have different leadership alsostyles,evidence attendthat women have to tackling group-think. There“Gender is diversity can contribute EU theAprilCommission said: with disastrous consequences.”been far too prevalentgroup-think in the past approach,governance. which has We need“but alsoto onebreak of betterthebetter corporate gender equality,” he said, particular. in needed women more with financial institutions istheboards essentialofbanks and other – diversity on greater that said of the management board.” below one-third fall not of shall membership gender each of clearlanguage: gender quota is expressedratios inmay verybe quite complex, the wake of the recent summit. nowamendedbe again thein by banks in the whichEU – may and quantity of capitalmainlyfocussed toonthe quality be is held which – 4) CRD as(known Capital Requirements Directive reformscontained thedraftin number of proposed governance In a Green Paper published in “Theissue is not just one of has Commissioner Barnier While the rules about capital The gender quota is among a “representation NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

The curse of Anglo Until quite recently some international commentators developed the unfortunate habit of confusing Allied Irish Bank with Anglo Irish Bank. No doubt, the change of name at Anglo came as a great relief to many in AIB who believed its reputation was being tainted by the unfortunate association with Ireland’s most toxic bank. Unfortunately Anglo’s new branding as the Irish Bank Resolution Corporation (IBRC) – seems to have created a new blind spot in the minds of some foreign journalists – this time with IBOA The Finance Union! Strange but true. Within UK banks accused of sexism the space of one week journalists from New York and Kiev contacted IBOA House to find out (a) if we are going to towards customers challenge Seán Quinn’s petition for bankruptcy in Northern Ireland and (b) what measures UK Deputy Premier vows to investigate we intend to take to recoup loans made to Quinn Holdings Sweden ABS to acquire assets

startling claims by Cambridge economist www boa org uk in the Leonardo Business Centre Apart from improving Without even considering less well in applying for start- and the Ukraina department governance in the financial the possibility that the father up loans from banks. store in Kiev. In both cases, the scribes services sector, the growth could take on the key child- The recent UK survey of rearing responsibilities after SME Finances found that thought they were contacting in the number of female IBRC. But at least the con- directors might also help the birth, it appears that it women were charged higher is common practice to dis- interest rates than men in fusion was relatively short- banks to address the percep- count the mother’s earnings firms of the same size and lived – and didn’t make it into tion that many institutions in calculating loans. type – while a British Govern- print! still hold deeply sexist atti- As well as this rather ment survey in 2006 reported tudes to female customers. stereotypical approach to that more female heads of BoA announces www boa e A recent study by British pregnancy and maternity, small firms said that gaining economist, Noreena Hertz, Hertz has also identified a finance was a problem for major job cuts has highlighted a number of further example of sexism them than men. instances where high street towards female entrepreneurs In another study when Bank of America (BoA) has banks appear to have taken a applying for business loans. MBA students were asked to confirmed that it will cut very dim view of mortgage Even though the British rank a series of imaginary 30,000 jobs worldwide in the applications involving women government’s own statistics businesses in terms of their coming years in order to reduce on maternity leave. record that 27% of small or viability, they always ranked annual costs by $5bn. Even though an expansion medium-sized businesses in male-led ones higher – even BoA Chief Executive, Brian in family size might be one the UK are led by women; when everything else was Moynihan, said the Bank would of the principal reasons for and despite the fact that a equal. be focussing on cutting con- couples looking for a mort- number of previous studies Britain’s Deputy Prime sumer banking costs. gage for a bigger property, have reported that female- Minister, Nick Clegg, has However, in an echo of it seems that some banks owned enterprises tend to go promised an investigation of recent developments in AIB believe that women are ren- bankrupt less frequently and the claims which, if proven, Group, the absence of detail dered financially irresponsible generally have a better credit would be “not only unaccept- on the Bank’s plans has caused

by maternity. history, women tend to fare able, but illegal.” widespread concern. F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e SPECTRUM profession.” than the oldest more profitable profession but oldest the second “Banking is Flann O’Brien of mis-selling to follow. precedent for other banks guilty the problem. Points of Roguery”roguetraders in aand proposes bid it’sto time“Six to end thesolve scourge of IBOA member, David Lemon, says ROUGH TRADE top executives. bonusesawardedbeto its to of level the different of view of£3.2 billion to compensate provision a makerequired to earlierthis year, thebank was year. Chief Executive, Eric Daniels,million last bonus awardedrecover up toto half offormer to seekingthe £1.54 be reported to is Lloyds Banking group in Britain PART OFBONUS HAVE TO RETURN DANIELS MAY committee would have taken a thenthebank’s remuneration bank’sbalance sheet for 2010 moreproperly charged theto been have should loss huge customersover the mis-selling rather than for 2011. of payment protection insurance. newsdirect The Lloyd’s action may set a Just after Daniel’s departure If this had been the case,thebeenhadthis If Some have argued that this december 2011 december Eric Daniels See Page 16 ment of women. ganisationdedicated to gender equality reportand the empower- by UN Women,the the protection newly of labourestablished laws,work accordingor unpaid United work to Nationsa for comprehensivefamily or-are–businesses, in vulnerable which jobs, often such lack as self-employment, Over half domesticof the world’s working women – 600 million in total bank’s share price. the in dropimmediate 4.5% fatigue. The news promptedhe is reportedlyan suffering from temporaryleave of absence as Horta-Osório (above) has takenas Lloyd’s ChiefMeanwhile Executive, Eric AntónioDaniel’s successorON SICKLEAVE HORTA-OSÓRIO IN GLOBAL WORKPLACE GLOBAL IN PERSISTS BIAS GENDER OA OKLE KPL WO LOBAL TS ERSI I BIAS DER GE PCA OU IBOA SPECIAL FOCUS closure the reconsider decision. to bank the dancies announced last year.the programme of 3,000round redun-of job cuts were part of British Exchequer said thethat the – new by owned 80% England. supportoperations in Bristol in 440 staff cuts from its ofcustomer Scotland, is to make anotherUlster Bank’s parent, Royal Bank REDUNDANT MORE STAFF TO MAKE400 RBS DECIDES The union, UNITE, has urged whichmorethanis – RBS See Page 14 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

A better fairer way: pictured at the launchof ICTU pre-Budget submission were (from left)ICTU economist Paul Sweeney; President EugeneMcGlone; Assistant General Secretary Sally-Anne Kinahan; and General Secretary; David Begg (Photo: Sam Boal/ Photocall-Ireland). Growth is the Key – ICTU www boa org uk Stimulating Speaking at the launch of the funding for growth, including: This could raise E1 billion Growth is the Key, Congress • E2 billion from the National over the next year. economic General Secretary, David Begg, Pension Reserve Fund over • Multinationals should be growth is the said: “The most important deficit the next three years invested encouraged to defer repat- facing Ireland is the deficit in the in job creation. riation of some of their profits only way out of demand for labour. • Private pension funds should and set up a commercial “The most effective way to be encouraged to increase fund to invest here. the recession, tackle our financial deficit is with their investment in the Irish according to policies that create jobs and economy by 5%, raising an Role of State companies

develop innovative new products extra E4 billion a year. Congress believes that State www boa e the pre-Budget and services. Austerity is self-defeat- This could be achieved companies can spearhead a drive submission ing and is suffocating the economy. by making those pension to create jobs, acting as engines Growth is the key to recovery.” funds – which increase invest- of recovery. from the Irish Pointing to the example of ments in the domestic econ- Creating an umbrella State Congress of Denmark whose new government omy by 5% of asset value – Holding Company, bringing the has embarked on an ambitious exempt from the temporary major semi-States together under Trade Unions. programme of public investment pension levy imposed recently one governing structure, would to boost growth, Growth is the by the Government. make it possible for this entity Key outlines a number of pro- These investments should to access private capital for posals to reverse the downward be in approved activities that expansion and re-investment. spiral of the Irish economy. boost job creation. This method of raising funds • Pension schemes should be would benefit citizens, says ICTU, Invest in jobs encouraged to invest in and would offer a clear alternative For every €1 million invested in Solidarity Bonds. to any privatisation of State assets infrastructure, up to 12 direct • A new state pension scheme that would only benefit private jobs are created. Congress has would give a substantial flow corporations.

identified various sources of of funds to the Exchequer. ⁄ F THE UN NANCE BOA ON

december 2011 SPECTRUM NEWS REVIEW SPECIAL FOCUS IBOA

A State Holding Company Above left: Congress Congress has, therefore, residency requirement should could lead investment in infra- General Secretary, David made a number of proposals be cut to at most 90 days – structure which would boost Begg, speaking at the for reform of the tax system. as in the UK – so that ‘tax competitiveness and create jobs. launch (Photo: Sam Boal/ • Targeting tax evasion and fugitives’ should pay more to Such investment would include: Photocall-Ireland). pursuing uncollected taxes the Exchequer.

www boa org uk • A state-of-the-art water and would produce additional • There should be a new 12.5% waste network: which could Top right: Flashback revenue. royalty tax on oil and gas to May 2010: as Fine create up to 12,000 per- • A funded social insurance production. Gael leader, Enda Kenny manent jobs. scheme would allow people • The rate of Capital Gains Tax (right) and then employ- • Retro-fitting energy inefficient to pool savings to pay for should be raised from 25% ment spokesman, Simon buildings: developing a new healthcare, pensions and sick to 30% and the Universal E8 billion industry to upgrade Coveney, announce policy pay. to create 100,000 jobs Social Charge should be Ireland’s 700,000 energy This would also save applied to all capital gains. inefficient homes. (Photo: Leon Farrell/Photo- money through reduced • Investment in public transport. call-Ireland). subsidies for private health- Social protection • Investment in education. Lower right: Finance care.

www boa e Congress also argues that there • Investment in health to ensure • The Universal Social Charge Minister, Michael Noonan, should be no further cuts to full use of all available beds. launches the Republic’s should be progressively There should be a cost-benefit restructured to reduce the social welfare. Medium Term Fiscal State- Strategies are also needed analysis of the continuing jobs ment in November (Photo: rate paid by low earners. moratorium. • There should be a new levy to help the working poor and Sasko Lazarov/Photocall- safeguard income supports for Ireland). on wealth above E2 million, Reform of Tax System with ‘wealth’ defined as people with disabilities. In a time of unprecedented crisis, current value of all assets, Community projects that Congress believes that all sectors yielding up to E500m. protect and boost employment of society must contribute to • The minimum tax for high should be safeguarded. addressing the gap between tax earners should be 35% – Supports which help people revenue and expenditure. with the threshold cut to take up work – such as afford- The Republic’s tax system E100,000. able childcare – should be main- contains a huge number of • A temporary levy of 2.5% tained. exemptions and incentives that should be placed on corpo- The full Growth is the Key narrow the tax base and limit tax rate profits. pre-budget submission can be take. They cost the taxpayer up • Citizenship is a two-way downloaded at www.ictu.ie.

BOA THE F THE UN NANCE BOA ON E to 11 billion a year. obligation: the 183-day tax S

12 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM womenstillarepaidconsider- justice. post-conflict to government equal pay, from representationfromgender-based issuesviolence to on in world, the around globalreview of women’s rightsJustice Women 2011-2012: In Pursuit of the empowerment of women. organisationdedicated Nations to gender United equality and Women, newly the established UN by comprehensive report labourof laws,according a to whichoften lack the protection unpaid work for employment,familydomestic businesses,work or are in vulnerable womenjobs,–600 million in total such– as self-Over half of the world’s working lack basic legal warns rights UN Over half of world’s working women global workplace Gender bias persists in h rpr cnim that confirms report The World’s the on Progress IBOA diary? Did you get your 200130 (from NI or 02890-GB). or4755908 ROI) (from 01- on House IBOA in Louise ship number addressname, and IBOA member- [email protected] youre-mail: with Diary should IBOA receive an to for all full Union members. included been haswith Diary this IBOA 2012 issue The of Pensionermembers who wish fes comprehensive aoffers or phone Anna or Spectrum december 2011 december that justice remains outformany millionsof ofwomenreach. is guarantees widespread of despite equality, that fact the reality century, “it also underscoresgender the in equality advances made remarkable in thethe last that although the report formerrecordsPresident saidof Chile – Women, Michelle Bachelet the – average of 82% of malein manufacturingearnings. attitudes still only on earngender an issues, thewomen figure is 60%. Kongearnings, Hong in while 61% of their male counterparts’ earn Japan manufacturing in nations. poorer world’sOn average women thein of some “developed” many in countries men than lessas ablywell as xctv Drco o UN of Director Executive all Forthe UK’s enlightened but agents– of change. women are no longerSecretary victimsGeneral says thatBanKi-moon: UN Women nowExecutive Director of former President of Chile is Michelle Bachelet: PCA OU IBOA SPECIAL FOCUS theUN the millionwomen continue tolive report globally, finds that 603 (CEDAW). Discrimination Women against theElimination AllofForms of tries ratifying the Conventionproperty onrights, and 186 coun- 115countries supporting equal equality their Constitutions, in territoriesguaranteeing gender estic violence, 139 countries125countries outlawingand dom- social,and cultural with – rights made in terms of civil, economic, Government, or State the of Headsreport elected as explains. serving currently are women sentationin parliament, and 19 30%markforwomen’s repre- reachedhave exceeded or the to vote is virtuallycountries universal. whereas todaywere onlythe allowedright to vote in two political arena. achievedmajor progress inthe thewomentheworldof have for action.” combineto offer asound basis pelling stories and keen analysiscomprehensive statistics, com- change.agents report’s of The asfar more than victims, but as how essential it is to see moonwomen said the report “highlights protection from violence. indecision-making, and denied over their bodies, denied awomen voicearestill denied control But in the debit column, the Butprogress hasalso been countries Furthermore, 28 Forexample, 1911,inthey pasthundredthe Inyears, UN Secretary-General Ban Ki- Inmany parts of the world, ⁄ NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

in countries where domestic violence is not considered to be a crime; and over 2.6 billion women live in countries where marital rape has not been explicitly criminalised. The report argues that well- functioning legal and justice systems are the backbone of society and good governance as they allow for accountability; the creation of laws and norms; and can fight the abuse of power. So well-functioning legal systems are also seen as a mechanism for women to claim their rights through strategic litigation. Unfortunately, in many States legal and justice systems are not yet “well-functioning” but are, instead, biased against women. Laws should be implemented to make a real difference for women, the report argues, and barriers in terms of social stigma and the costs and practical Maid in Dagenham: Sally Hawkins as Rita O’Grady – the central character in the 2010 film, “Made in difficulties of seeking justice Dagenham,” which charts the struggle of working women to achieve fair and equal pay – based on the true need to be addressed. story of the 1968 strike of women working at the Ford plant in Dagenham, England. S www boa org uk www boa e BOA THE F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk hard party animal of the Delta Adoboli,the work hard, play theironeoftraders, Kweku kickingtheUBS,whenwas Me’ sign on his back? villageidiot sporting ‘Kicka that is somewhat model akin business to the a operate SPECTRUM How many times does this the takento been had newsthat another bank inevitability about recentTherewasdepressing a ROUGH TRADE! needhappento before cleaners by a rogue trader. scourge of rogue traders! says it’s time to tackle the IBOA member, bankswaken thetoup risk? This time the one getting Whydo they all seem to David Lemon december 2011 december is that the managementthemes don’t in all of these scandals boggling Société Générale. upped the ante with a mind- and then in 2010wipe outJerome Barings Kerviel to Bankdevastating loss £800m in 1995 the early trend-setters with a rogue-traders? One smack for every syllable. -I-told-you-to-watch-out-for- to run up losses of Onetrading desk, managed team. How-many-times-have the entire senior management I feel like smacking the legs of n o te common the of One NickLeeson wasoneof Ooh, it makes me so mad E .b sre at spree 4.9bn , E 2.3bn. up with synthetic jobs, where Simple, isn’t shares. it? buy to having out tional share ownership with- contractsmimicconven-to positionson equities futures longinstruments take that they are even more exotic. Ann Summers, but apparentlyin plastics and nylon,shares likein companies ICI orinvolvedequities? syntheticI thought are Kenobithey Wanwere Valium. the managers reaching for shouldbeenough have risk Trading operation withinof UBS the Global Synthetic Equities up to. dealstheir party animals get associatedwith the complex seem to understand the risks a division– whose very name I can’t wait until they come derivative are They What in the name of Obi- Mr Adoboli was a director PCA OU IBOA SPECIAL FOCUS and shrugging his shoulders. ably while wringing hisdoanything,” hands he said, prob- criminal energy then you can’t couldn’t have been Sonntag,Der prevented. Gr Profit Levels. theVanishing typeofVPL– been more focused on another to avoid visible panty lines.wearflesh coloured knickers gested women should that sug- things, other among the on company’s staff dress code to which,booklet 44-page introduced athey prioritiesall wrong. Last year to do any work. and pensions without havingofemployment, like salaries youcan have all the benefits Chief Executive, Oswald Clearlythey should have their had UBS Maybe I smoe cs with acts someone “If ϋ bel told the Swiss weekly, ht h loss thethat ⁄ NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Six Points of Roguery Lemon’s Trades Description Tract

Pay the traders a bigger salary and smaller bonuses.If the bonus for successful trading was luncheon vouchers instead of 50-foot yachts, they’d be less inclined to dabble in fraudulent 1 E2bn deals. Unless, of course, there is a really, really nice deli beside the office. Check more transactions, especially those with more than 8 noughts in them. This should be done by big muscular guys, unafraid to ping the braces of the traders, while they are 2 tied to a chair and doused in petrol. Stuck in the Middle with You by Stealers Wheel could be played in the background for added effect.

Rotate the job roles. One week it’ll be all SWAPS and derivatives at the Delta One desk and the next it’s the Tango One desk with sole responsibility for stocking the drinks coolers. No time for rogues? – 3 Of course, sole responsibility does create the risk of the odd tin of Tango going amiss but UK Business Secretary, Vince Cable. it’s better to be Tango’d than Delta’d.

Screen all job applicants. This should include referring all applications to the crossword A rogue by geek in HR. He would have been able to tell UBS that Kweku Adoboli is an anagram of A 4 Bloodi Kwuke. any other Screen all job applicants again. Massive losses can also arise from ‘fat finger’ syndrome, name would when the trader keys an order for 50 M&S shares as 500m on the day they issue a profit 5 warning. Anyone with hands like two pounds of sausages should not be employed. smell as Don’t engage in trading activities that you don’t understand. If you don’t know your assets from your equities, then stick to the normal banking principle of fleecing customers sweet… 6 to provide the profits!! In the immediate aftermath of the UBS rogue trading He also said that the with salaries and bonuses in that banks can do to prevent scandal, Britain’s Business positions taken by Kweku the Who Wants to be a such catastrophic losses? Secretary, Vince Cable, came Adoboli were within the Millionaire? league, it’s not Should we all just sit back and out fighting at his party’s normal business flow but surprising that occasionally wait until the next Master of annual conference with very the true magnitude of risk their employees forget what the Universe decides to lay trenchant criticisms of the E www boa org uk exposure was concealed by game they are playing and out a 2bn bet on the price bank which he described as a fictitious trades. play their own version of the of crude oil or pork bellies? “rogue institution.” Imagine that! A fraudster Million Pound Drop instead. Well, I’m not quite as Now back at the day job, creating fictitious entries! Banks tend to rely on defeatist as Mr. Gr bel. So the Minister is examining pro- Whatever next! computers to spot fraud and the six-point plan aboveϋ is posals for the privatisation of Luckily Mr Gr bel is not error but seem to forget that my proposal for eradicating the Royal Mail, Britain’s postal considering a jobϋ with the the people they employ are this scourge of the financial service. police following his resignation very smart and know how system. And the main consultants in the wake of the scandal. computers work. Sorted! advising the Minister on this Since banks engage traders So is there really nothing S project? Why, UBS, of course! www boa e

TAKE•A•BREAK Apart from surfacing in the UK’s postal service, the Special discounts are available for IBOA members on ubiquitous UBS is also advising the Belgian Government on its hotel breaks throughout Ireland. financial services sector following the recent disaster with Check out one of the Union’s websites at either Dexia Bank. After all, when it comes to www.iboa.ie/members/otherservicesor www.iboa.org.uk/ dealing with extensive losses, then who better to call for members/otherservices for further information on the advice than a bank that has special offers currently available to IBOA members. managed to lose E2bn (£1.5bn)

to an alleged rogue trader? F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e SPECTRUM mathematics. one in applied matics and pure mathe- levels: one in I have three A- Spike Milligan and Simplyhealth. sonneland Development (CIPD) by the Chartered Institute of Per- management survey, absenceconducted an according toUK, non-manualemployees in the absenceforboth manual and sickness long-term of cause ABSENCE WORKPLACE CAUSE OF STRESS NO.1 Enforcement) Bill. CentralBank(Supervision and inghave been inc luded in the New proposals for whistleblow- THE BLOW SOFTENING identified as the most common beenWork-related has stress focusdirect december 2011 december See Page 26 See Page 20 work colleagues. protectingthe health oftheir tothe bottom aswell line as – Safetyreps deliver real benefits COST-EFFECTIVE SAFETY REPS ARE devastating impact on the economy.order to avoid a repeat of thereform recent of thecollapse culture as well which – as the has structure Jointhad of suchIrish Oireachtas – a banking in Committee,and Broderick Reform, last made month. the Incase themeet forcourse thethe of Joint urgentthis engagementOireachtasIBOA with CommitteeGeneral the Secretary, on Finance,Larry Broderick, REFORMING Publicled aUnion Expendituredelegation BANKINGto CULTURE See Page 27 ments across the sector. continuesto monitor develop- onHealth, Safety and Security IBOA’s Executive Sub-Committee SAFETY BODY IBOA HEALTH& See Page 22 See Page 27 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

THE ANGLO RESCUE SAVING EUROPE’S BACON

…BUT WITH A HEALTHY MARGIN FOR THE SPECULATORS

Tête-a-tête: US Treasury When former Finance Minister, had done in the US – because so One of the great Secretary, Timothy Geithner Brian Lenihan, announced the many European lenders were

riddles of the Irish (left) has a brief exchange Irish Government’s intention to exposed to Anglo through loans www boa org uk with former French Finance take special measures to protect and bonds. banking bail-out in Minister, Christine Lagarde Anglo Irish Bank, many com- So this explains, in part at – who now heads up the mentators wondered how a least, why the European Central the winter of 2008 International Monetary Fund bank specialising in massive Bank has steadfastly refused to was the decision – at a recent EU Finance highly speculative loans to a rel- allow Anglo’s senior bond- Ministers meeting (Photo: atively small group of property holders to be “burned,” as so by the Republic’s Claude Paris/AP). developers could be considered many, including members of the to be of core value to the econ- current Irish Government be- former Minister omy in the same way as major lieve, they should have been. for Finance, Brian retail banking operations like AIB The ECB’s desire to protect and Bank of Ireland. the European banking system is www boa e Lenihan, to Some of the more cynical understandable. What is less explanations even presumed easily justified is its willingness designate Anglo some kind of shady connection to extend this protection to the Irish Bank as an between Anglo bosses and many individuals and institutions members of the major govern- who have acquired Anglo bonds institution of ing party, Fianna Fáil. at a discounted price since the The answer became a little onset of the crisis and who are “systemic clearer recently with the revela- now guaranteed the full value of tion that the special treatment of the original bond. importance.” Anglo was influenced in no small While many tax-payers are measure by the US Treasury resigned to the need to save Secretary, Timothy Geithner, who Europe’s banking system, they at an early stage was fearful that may be rightly alarmed at the the sudden collapse of Anglo use of public funds to under- Systemic: The late Brian could trigger the same kind of write the activities of speculators Lenihan (Photo: Sasko turmoil in European banking as seeking to cash in on the distress

Lazarov, Photocall-Ireland). the demise of Lehmann Brothers of others. F THE UN NANCE BOA ON

december 2011 SPECTRUM 19 20

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM concept of protected disclosure.posals on “whistleblowing”A central is elementthe in the Bill’s pro- Protected Disclosure “whistleblowers.” theseproposalskey protectto victimised by their thememployer.the right giveto sue alsoif they and employer are their penalised by being from and protectthem from civil liability will which “whistleblowers” – as act employees whosector increased protection forpowers financialis a proposal to provide financial services legislation.service providers and to enforcetosupervise regulated financial significantly enhanced powers the Republic’s Central Bank with tive process. ingits way through the legisla- isthecurrently summer – mak- Republic’s Government during the introduced by was which Enforcement)and – Bill, 2011 (Supervision Central BankThe Softening the blow n hs ril, e outline we article, this In enhanced these Among If enacted the Bill will provide Proposed law advances protection for ‘whistleblowers’ – but some important issuesremain unresolvedbut someimportant december 2011 december NEWS REVIEW land). Ire- Stedman/Photocall Mark (Photo: (below). Governor, Patrick Honohan banking: for whistleblowers in improving protection Makingprogress on Central Bank authorised officer of the Central good faith to the Central Bank, a reasonablegrounds forbelieving ak hr ta pro has person that where Bank eta Bn epoe o an employee or BankCentral in person a by madeclosure rtce dslsr i a dis- a is disclosure Protected that the disclosure will show: (i)

financial services law; en cmitd under committed being ht n fec ws r is or was offence an that PCA OU IBOA SPECIAL FOCUS to foundifguilty, fineupofato of an offence and may be liable,then the employer may be guilty (iii) because employee the has (ii) two years. to up of imprisonment term (i) allows someone or incites else whoto do (or anso): employee penalise to threatensor penalises employer an Where Protection from Penalisation individual’s consent. the without Bank Central the closurewill not dis- bedivulged protected by a makes who Bill.But the identity of a person as a protected anonymousdisclosure basis will under not qualifythe misleading. mation being disclosed is false or (ii) (iii) that any provision of financial (iv)that evidence oftheabove

o gvn eiec i any giving evidence in for ht pecie contra- prescribed a that e vention (as defined in the Bill) (iii); his/her ofintention to do either notice(ii) or given services law; or proceedings underfinancial closure; formaking aprotected dis- destroyed. eieaey ocae or concealeddeliberately was or is being committed; s en o i lkl t be to likely is or being is contravened; or serviceslaw was or is being knowledge infor- thatthe 250,000oftermand/ora disclosure an A on made Protection from Civil unlessthe in itismade making such a disclosure liable for damages for Liability lsr” il o be not closure” will “rtce dis “protected- a A person who makes ⁄ NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Speaking out: Banking In view of the recklessness whistleblower and former evident in recent years, it is not internal auditor at AIB, impossible that the leaders of a Eugene McErlean, speaks financial institution might consider to the media at a press that a E250,000 fine is a risk conference organised by worth taking in order to suppress the Transparency Ireland to information on a controversial promote “An Alternative practice or event. to Silence” in Buswell’s As for the alternative punish- Hotel in Dublin last year. ment of a term of imprisonment (Photo: James Horan/ of up to two years, the Bill is un- Photocall Ireland.) clear as to who would be required to serve the sentence – the Chief Executive, the Chairman of the Board or someone else? In the case of victimisation, the Bill provides that a “whistle - blowing” employee would have the right to sue his/her employer– but additional guarantees would be needed for proper protection. Apart from copperfastening access to legal costs for the employee, more specific guarantees are required to ensure that any legal action brought by the employee is dealt with a timely fashion so that the employer cannot delay proceedings to the Right to Sue for Victimisation IBOA Comment detriment of the employee. Furthermore, the options of re- Where an employee is victimised The introduction of proposals to instatement and re-employment because s/he or any other person: protect “whistleblowers” is a should also be available to the (i) honestly made a protected welcome step forward. employee so as to avoid a situation disclosure; IBOA has advocated the intro- where an employee could win a (ii) gave evidence in any production of proper safeguards for case but in effect be forced to ceedings under financial “whistle-blowers” for a number accept compensation from the

services law; or of years – including it as a formal institution with little prospect of www boa org uk (iii) gave notice of their intention demand in the Union’s submis- finding further employment in to do either (ii) or (iii), sion to the Oireachtas Committee the financial services sector. then s/he will have a right to sue on Finance as far back as 2004. As well as addressing these the person who victimised them. However, certain aspects of the issues in law, additional guide- Examples of victimisation given proposals require further clarifi- Big screen exposure: lines should also be introduced in the Bill include discrimination, cation – especially the penalties Rachel Weisz stars in The in each financial institution to harassment, intimidation, injury for employers who seek to punish Whistleblower, based on a embed “whistleblowing” as part and the threat of reprisal. or victimise “whistleblowers.” true story. of the culture of Irish banking.

Easier reporting for whistleblowers in UK www boa e In Britain whistleblowers or those aware of “I want people to come forward and tell corruption and irregularities can now con- us if they think there is fraud or corruption tact Britain’s Serious Fraud Office (SFO) on going on in their workplace,” said SFO special phone and online links that will pro- Director, Richard Alderman, whose jurisdiction tect the caller’s identity. covers England, Wales and Northern Ireland. Under the new service, ‘SFO Confiden- “Company executives, staff, professional tial,’ a whistleblower''s identity will be se- advisors, business associates of various curely protected, though contact can be kinds or trade competitors can talk to us in made anonymously if preferred, the SFO an- confidence.” nounced recently. The reporting service is designed to cater Anyone in an organisation or connected specifically for people who, though not through business or providers of profes- themselves the victim of fraud or directly sional services, and with inside knowledge disadvantaged by corruption, have knowl- of suspect practices, can call a dedicated edge through their professional activities of

team of SFO operatives. situations that appear to be suspicious. F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM Committee on Finance, to the Joint Oireachtas Union made a presentation from IBOA The Finance Last month, a delegation Reforming Banking Culture IBOA meets the politiciansabout… Public Expenditure and In this article, Union Reform. General Secretary, Larry IBOA’s written submission Broderick, outlines the key is available on the Union issues put to the Committee. websites or by post on request to IBOA House. december 2011 december employment prospects. denied appropriatebeingwhomaremembersmanyof – information to address serious concerns about their own future representatives, it is much worse for our banking leaders. regularbasis in our dealings with some predicament. a experience We on this inadequately answered. questionswere unanswered or,manyits of but at andAngloleast,recently – seniorfigures from AIB, Bank of Ireland The Joint Oireachtas Committee has met While it is frustrating for us, as union Wesympathise with the Committee’s …bank staff are being invited to make potentially life-changing decisionsabouttheirfuture littlewithvery information to investigation by the regulatory authorities… assessthe merits of the options available to them. Indeed if a rightlybe subject to public censure and, at the creditvery least, institution an was to treat its customers this way, it would programmenot just out of narrow self- changebutalso incontributing tothe roleplaytonot only deliveringin that your predecessor committee inforchange when2004.appearedwe before in Irish banking. Indeed we wereare advocates now three yearsofthese intoplans for thestaff even bankingthough institutionswe crisis.or the possible implications the EU restructuringwe still plans do notof have most transparency of these around We believe our members have a vital IBOA recognises the need for change Despite endless rounds of meetings, ⁄ IBOA WORKPLACE LIFESTYLE ARTS & LEISURE

interest but also with a wider con- We believe that preserving the cern for the needs of customers branch networks will be vital to and taxpayers. rebuilding trust between the cus- Our members are anxious to tomer and the institutions as will find out about the future of Irish the role of local branch managers banking in general; the future of and staff in meeting customers’ their own institution; and, of needs while at the same time en- course, their own role in that suring efficient delivery of service. future. The old relationships between Despite everything they have Branch staff and their customers been through in the last three that once existed in Irish banking years – seeing the profession they may not be restored in the same took pride in reduced to pariah form in the new model of bank- status – seeing the shares their ing that is beginning to emerge in employers encouraged them to pilot projects at this time. buy rendered worthless by an act These pilots may be the only of colossal betrayal by those same solutions for retail banking – but employers – seeing the devasta- there may also be other options. tion wrought on the economy Customers in particular may have and the lives of so many people views about the quality of their by the reckless behaviour of their current relationships with the bosses – despite all of this, bank banks and how they would like officials still care passionately them to develop in the future. But about the future of Irish banking so far no-one has consulted them. and wish to contribute to its We believe there should at least recovery. be a conversation about these But in our experience, their issues between all of the stake- commitment is rarely reciprocated holders in Irish banking – includ- by the senior executives in their ing the customers as well as the own institutions – nor indeed, taxpayer, the State, the share- I have to say, by government. IBOA General Secretary, Larry Broderick holders and the staff. In short, what we are seeking for Collateral Damage our members’ benefit and for the It seems that a view has been taken by Major issues unresolved benefit of the people of this country is a the Department of Finance and by some Three years into the crisis, a picture is clear vision for the future of Irish banking. industry leaders that banking employees finally beginning to emerge as to the are effectively collateral damage – and shape of Irish banking in terms of corpo- If job losses on this scale as such have no right to be treated with rate structures. due respect; no role in shaping the future But the bigger questions remain about were happening in a multi- www boa org uk of the sector; and no right to be con- how the banking sector can best serve national company, we would sulted even about their own personal economic and social development; or the have already seen a range of futures – either in terms of possible implications of State ownership of five of redundancy or indeed the working the original six covered institutions for responses from Government. arrangements to be applied following competition and diversity; or indeed the the restructure. role of foreign-owned banks – which Litany of job losses may themselves rely on significant levels Staff in particular need to know where of Exchequer support via their parent they stand. Since the crisis began, we We need a discussion about entities. have already seen around 4,000 jobs go the kind of banking sector We also need a discussion about the in the two pillar banks, mainly through www boa e we want and need into the kind of banking sector we want and need natural wastage and non-replacement of into the future. retiring and resigning staff. Just under future. Our fear is that, without an agreed 1,000 staff have been made redundant public policy framework for the sector, in Ulster Bank and 750 more were let go So, in some institutions bank staff are what may finally emerge from the wreck- when Halifax closed down. Further job being invited to make potentially life- age of Irish banking could be even worse losses have already occurred in National changing decisions about their future from the point of view of the customer Irish Bank, Anglo and Permanent-TSB. with very little information with which to as well as for staff. That is a fairly grim backdrop as far assess the merits of the options available All of the major retail banks have as employment is concerned. But the to them. Indeed if a credit institution was either already cut staff and some are outlook is no better. According to recent to treat its customers this way, it would committed to reduce employee numbers estimates up to 6,000 more may go in rightly be subject to public censure and, further into the future – at the same the course of the next eighteen months. at the very least an investigation by the time the Joint Oireachtas Committee has These are estimates – but what my regulatory authorities. been assured by their representatives members need is clarity and some kind But apparently it is acceptable to recently that they do not intend to of action plan to look at employment operate to a different lower standard shrink their branch networks in terms of options. with employees. locations. ⁄ F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk economy. pivotalturnwillberebuilding to Irishthe to expediting the recovery of AIB – which in tostay. Indeed, those who stay will be vital opt to leave as well as those who may decide an input into shaping thereal future engagement of the Bank.which allows them to make fices in order to achieve a resolution. they may be required to make further sacri- alsorecognise that even though they were future.They understand the problem: they notresponsible creatingfor theproblem, monthsthat the Bank would besmaller in numberof occasions over the last eighteen some major institutions. mirrors the difficultiessectorala levelIrishin banking andthis around– engagement in the closure could not be averted.programme would be in preparationfor these in jobs case – and some kind ofheadquarters retraininginAmerica toplead the case haveably been dispatched to visit company inter-agency task force. ablyhavealready seencreationthe an of in a multi-national company, we would prob- SPECTRUM ness, it is also an appallingcerns waythis toraises treat aboutstaff. this approach to busi- belatedly now trying are to andproduce 2,000) the least analysis at to justify it. process. business, AIB effectivelythenumber of staff reverse-engineeredrequired to conduct initsorder to arrive at acumulative thefigure for and-branch analysis of thethat, Bank’s instead operations of carrying outto a detailed extract root- an admission from Mr. Hodgkinsonthe highest levels in the Bank.AIB in September showed a lackexchanges of claritywith the Executive at Chairman of who remain. natureof the employment the whatwill be and arrangements,for severancethose particular in go to areas jobs of number theor to locations, aslater the terms of lossesany last April, we areEven no inclearer AIB whichsix monthsannouncedAIB setsover headlines2,000 job without substance This applies both to those staff who may What they want – and are entitled to – is EmployeesAIBinhave been told a on

No such engagement has taken place at A Minister or junior Minister would prob- If job losses on this scale were happening Apartaltogether from the serious con- Theyselected afigure for job losses (of DeputyPearse Doherty finally managed Committee’s Oireachtas the Indeed

t s rbby o coincidence no probably is It

that the two mosttoxicthetwothattheof

Irish banks were also the two thealsowerebanksIrish most staunchly anti-union. december 2011 december middle) Richie Boucher (Bank of Ireland) Banking bosses on their way and David Hogkinson (AIB). into Leinster House: (top) (top) Alan Dukes (IBRC), greater willingness to engagelearn with staff. important lessons from Bank of Ireland’sinstitutions. toamuch fuller extent than the other two information and to sharewillingness their to engagebusiness with us, plansto exchange Anglo.Bank of Ireland has and demonstrated relationships AIB our with than enta say that our relationship with them is differ- that reckless autocrats couldreflection prevail.wideracultureof whichmeant believe that their anti-unionmitigated do mentality I their worst excesses but – was automaticallya would have union trade a two most staunchly anti-union.Angloand Irish Nationwide – were also thatthe the two most toxic of the Irish banks – bad debts. damage to be written offtitude along seemswith Anglo’sto be thatout theits staffmandate areeffectively. collateraltalentis available But again,to the institution the to at-carryholder in helping to forthebusinessensure andultimately theshare-that the necessaryconsiderationto employees, it is also good into it. process will unfold and thatwhere howentitled sense someof have to they might fit AlthoughAnglo is winding down, staff are IBOAhas recently begun to represent staff. banking. Irish provided been for has support that unprecedented the substantial on return taxpayers who are hoping forsuggest,besttheinterestsIin ita is theprompt of and orlong term interests of AIB –nor indeed, staffacross the board is not in the medium for many months now. hasbeen hanging over the banking group because the prospect of mass redundanciesunderstandwhat they are going through theiremployment– of future theduring of termsthe inlast wringer month. AIB staff throughAvivahavebeenputwhointhe rightly concerned about the plight of the staff Demoralising staff is short-sighted levels of that institutionbehavioursbeingdeveloped thehigherat while Bank on of Ireland’s intent wereimplementing they a new culture that inCommittee the sector. Ireland in their discussionsmanagementteams from AIB andwith Bank of thestruckwas claimstheIby thebothOireachtasofby Culture is the key Webelieve that other institutions could Infairness to Bank of Ireland, Ihave to presence the of saying that not am I Incidentally, it is probably no co-incidence Thisisnot simply mattera ofshowing A similar situation applies in Anglo where The systematic lowering of the morale of Manydeputies and senators have been I soe f h nw aus and values new the of spoke AIB ⁄ IBOA WORKPLACE LIFESTYLE ARTS & LEISURE

management conceded that they were condone a complete absence of accounta- determined to learn from their past mistakes. bility at the top while holding those working Very laudable sentiments, indeed, but unfor- at the counter accountable for every cent or tunately they are not reflected on the ground penny they handle on a daily basis. within Irish banking. While there has been some slight In most of its key characteristics, we evidence of new thinking, the Committee’s believe the culture of Irish banking is recent exchanges with banking leaders show unchanged. Indeed in a major survey under- that many major issues remain unresolved. taken for us recently, our members have told us that in its more striking manifesta- State now occupies pivotal role tions – such as the pursuit of sales, the We believe they will not be resolved if these intensifying pressure on staff through per- institutions are left to their own devices. They formance targets, combined with reduced need help to address these bigger issues – staffing levels, increased pressure for deposit- and given its pivotal role in Irish banking taking without any real regard for the needs now, we believe that the State is in a position of customers or their impact on staff – the to advance significant changes in banking situation is actually getting worse. practice and promote a new vision for Irish Our members find this working environ- banking. ment extremely challenging in terms of work- That is why IBOA was grateful to have loads and stress levels and they believe that the opportunity to engage with the Joint it is ultimately not in the longer-term interests Oireachtas Committee recently. of either the customer or the institution, itself. We hope it will be the first of many Our concern is that the mentality behind engagements so that, together, with the many aspects of banking practice at the pres- other stakeholders, we can ensure that we ent time is one of short-termism which also change Irish banking for the better as – rather underpinned the recklessness which led to than simply applying a sticking plaster solution the crash. which falls apart at the next sign of a crisis. IBOA has outlined some of the areas that When ordinary bank officials need to be addressed in its written sub- look at Irish banking, they see a mission to the Committee which is available on the Union websites. system which appears to con- We need a body to oversee the imple- done a complete absence of mentation of a range of complementary initiatives which will: accountability at the top while • strengthen regulation, holding those working at the • raise customer confidence, counter accountable for every • safeguard public investment, • improve the morale of bank staff, and www boa org uk cent or penny they handle on a • ensure that real lending is available to daily basis. generate jobs; – all of which are essential to restore the It is as if the mindset is so engrained in credibility of Irish banking in light of the the higher echelons of Irish banking that they extensive reputational damage suffered in are unwilling or unable to move away from the last three years. that basic philosophy. We need greater diversity in the board- It has been very difficult to try to ensure rooms of financial institutions as well as that banking leaders face up to their respon- measures to enhance the fitness and probity sibilities over the last three years. It is com- of directors. monly accepted now that they have been in We need legal protection for whistle- www boa e varying degrees of denial about the extent of blowers. We also need codes of employment the problem – and, therefore, unwilling or practice to combat the climate of fear unable to consider alternative approaches to endemic in Irish banking. dealing with the problem. We need a major redesign of remunera- At the same time it has been galling for tion practices throughout the sector in order ordinary staff and customers to see banking to incentivise positive behaviours which bosses walk away with golden parachutes prioritise the long-term interests of the and apparently iron-clad contractual entitle- institution within the context of the broader ments. economic and social needs of the State. Our members contrast this with the We need the authorities – both public attempts made to undermine their own con- and institutional – to treat bank staff with tractual rights in a number of areas. Instead Oireachtas Inquisitors: respect by engaging fully with their repre- of a gold-plated pension, many of the bank top) Alex White TD (Committee chair), sentatives in a process of genuine consulta- staff we represent are facing the ultimate Michael McGrath, TD tion and negotiation – to manage the threat of losing their jobs. and Pearse Doherty TD. transformation of Irish banking in line with When ordinary bank officials look at Irish agreed principles.

banking, they see a system which appears to F THE UN NANCE BOA ON S

december 2011 SPECTRUM HR USNW NLSSSAFETY FOCUS NEWSANALYSIS SHORT CUTS SHORT CUTS 26

BOA THE F NANCE UN ON www boa e www boa org uk made in the UK, more being than cutssignificant budget two- non-profit sectors (14%). privatethe(14%)andinthan with last year (10%) and is higher sector this year (24%) compared work-related stress of cause common in more the apublic as benefits pension jobs, and pay tofreezes. cuts sector highlighting the impact – work stress at cause of one of public and restructuring as levelorganisationaltheof numberchange increased the to pointsector reporting an increase. tions,with 50% of respondents amongpublic sector organisa- stress-related absence in rise absence. themainreason forlong-term with acute medical conditionsskeletalproblems as to draw level overtakenstress has musculo- SPECTRUM absence management. ing to a major UK surveynon-manualstaff, ofaccord- of long-term absenceStress is now amongthe top cause nupiigy gvn the given Unsurprisingly, Job insecurity is also reported epnet i te public the Respondents in The survey notes a particular workers, manual Among Stress LONG-TERM ABSENCE NOW NO. 1 CAUSE OF IT’S OFFICIAL: december 2011 december Simplyhealth. (CIPD) and Development Personnel and Institute of by the Chartered survey, conducted management to an absence UK, according employees in the non-manual manual and absence for both term sickness cause of long- most common identified as the stress has been Work-related

and mental health problems has support.” work and to provide difficulty at having coping appropriateor beingunder excessive pressure people early signs of thespot sences. essarystresspotentialand ab- change process to avoid unnec- communicating openly throughout and employees the their focusonregaining the trust of major change and uncertainty. of periodsparticularly during ership and people management,ing stress is about effective lead- economic downturn. place as a result ofpeople thefeel under inthe prolonged work- theheightened pressure many sickness absence, highlighting number one cause of long-term that stress is for the says:first “Thetime surveythe this year shows 24% of non-profits). privatethesectorin and17% next six months (compared makingwithredundancies overthe organisations sector public report of they (43%) willfifths be A link A between job security “They also need to be able to to need managers “Line “Toalarge degree, manag- Miller, Jill adviser, CIPD Dr INSIDE • Organisations that have noted of (28%) quarter a Over • Other findings include: a decrease. compared to just 12% reportingcreasein stress-related absence, (39%)employers reportin-an ten in four Nearlyincreased. absence that is stress-relatedlittlechange, thehas proportion of levels reported in the survey show planning redundancies). not are who 32% theirstaff (51% compared with mental health problems among increase in an report tolikely significantly aremonths more six next the redundancies in make to planningEmployers also been revealed in the survey. lhuh vrl absence overall Although to work ill). people comingincrease in reportedhavenotwho an (49% periodcompared to33% ofthose same the stress-related absence over likely to report an increaseover the in past year are more an increase in ‘presenteeism’ in the last 12 months ing to work ill (‘presenteeism’)in the number ofemployers people report com- an increase IBOA WORKPLACE LIFESTYLE ARTS & LEISURE

It’s your right to work in safety and security!

The IBOA Safety, Health, Welfare and Security (SHWS) Committee aims to work with members and employers to create healthier, safer working environments for everyone. IBOA has produced guidelines on your rights under health and safety legislation in the Safety reps are cost effective Republic and Northern Ireland These can be accessed on Union reps are not a business Safety reps deliver safety reps at between £136m the IBOA websites by following these links: cost item, but an important real benefits to the and £371m (at 2004 prices) as resource for employers in both a result of reducing working days www.iboa.ie/knowyourrights/ the public and private sector, bottom line – as lost – while a 2007 report esti- yourrightsroi/healthsafety.html according to a new paper from well as protecting mated that overall safety reps

for the Republic of Ireland; and www boa org uk the British Trades Union Congress. the health of their save society between £181m www.iboa.org.uk/knowyour And there’s no clearer indication work colleagues. and £578m each year (at 2004 rights/yourrightsni.html for prices) as a result of lost time of this effect than the lifesaving, Northern Ireland. money-saving role of union reduction from occupational If you have any questions or safety reps. injuries and work-related ill- The TUC document on the nesses of between 286,000 and concerns about health, safety provision of facilities and facility 616,000 days. or security in your workplace, time for union reps cites studies please contact a member of your showing that around half of local health and safety committee safety reps take no more than in the first instance.

Small Ads – Big Choice www boa e one hour a week to undertake If there is no health and safety their union role – with many committee in your workplace, spending their own time on Holiday Apartments please contact a member of safety rep work. the IBOA National Committee Commenting on the positive to Rent role played by union reps, the below: report notes: “As well as making Adverts placed for Elaine Barker (BOI), Carmel a significant contribution to Curran (FTB), Margaret Power increasing productivity they IBOA members by (BOI-GB), Stephen Kennedy make workplaces safer, reduce (BOI), Etain Ryan Lyons (AIB), the costs of recruitment and help IBOA members Jaynette Stirling (Ulster NI), business became more respon- Robert Thompson (Northern/ sive to change by helping staff Danske) and Kate Varley (AIB). acquire new skills in addition to Check out the IBOA websites: You can contact all of these updating those they already have.” by e-mail at [email protected] or by The TUC document points to www.iboa.ie/services/smallads.html or UK Government figures, which phone at 00-353-(0)1-4755908 www.iboa.org.uk/services/smallads.html or 00-44-(0)2890-200130. put the benefits to society of F THE UN NANCE BOA ON

december 2011 SPECTRUM 27 HR USNEWSREVIEW SHORT CUTS 28

BOA THE F NANCE UN ON www boa e www SPECTRUM the world. you can shake In a gentle way, Mohandas K. Gandhi Kerry’s family. charity the selected by Care– £9,550for Marie Curie Cancer raised Club Bankers’Belfast recently a special – cancer event in with the struggle heroic BankOfficer whodied after a Christie, IBOA’s Ulster Kerry former to tribute fitting a In KERRY TRIBUTE iboadirect december 2011 december

of exciting training and development opportunities for N

See Page 32 ls. bearing in mind that in a changing workplace, members Committee recently. discussiontheby IBOA Youth financial services the sector were tabled for in employed ularconcern to young workers A wide range of issues of partic- BANKING FOR BETTER STANDING UP PCA OU IBOA SPECIAL FOCUS See Page 36 sation. withtheIrish Medical Organi- DirectorofIndustrial Relations of post the up take to IBOA Relations Officer, Industrial Steve Tweed, is toSenior leave HIS LEAVE STEVE TAKES See Page 37 See Page 30 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Handling Change History of IBOA to be published in New Year

andling Change, the history of IBOA, will be Hpublished in March by the Collins Press. Produced by Paul Rouse and Mark Duncan, the book was specially commissioned by the Union to mark the renaming of the Irish Bank Officials’ Association as IBOA The Finance Union. The IBOA was founded in 1918 when 350 officials dared defy their banks’ directors. Soon it had a membership of more than 80% of all bank officials. Initially ignored, the IBOA threatened strike and the banks agreed to arbitration in March 1920. The arbitration report gives a remarkable insight into the expectations of what a bank official should be, who they should marry, where they should live, and much else. Most of all, it reveals a certain elitism among bank officials. The theme of strikes runs through the book. While the 1920s and 1930s were quiet, every decade after that saw industrial unrest and usually strike. Women came into bank- conservative ing during the Great War and industry to one so reckless as Mark Duncan was central in the IBOA helped to advance to bankrupt the Irish state. establishing the GAA Museum www boa org uk their rights. They now make Dr. Paul Rouse, formerly at Croke Park. He works on up three quarters of IBOA of RTE television’s flagship research projects in Ireland for members. current affairs programme public and corporate bodies. Work in a bank was tedious Prime Time, now teaches Irish Both are co-authors of and led to a great focus on the history at UCD. He has also The GAA – A People’s History social life of the Association. written extensively on the (2009) and The GAA – County Broadcasters such as Terry history of the GAA. by County (2011). Wogan and Bunny Carr began their working lives as bank

officials, while Christy Moore www boa e Former bank official, Special Offer for IBOA Members took up singing during a Sir Terry Wogan E bank strike. The recommended retail price for Handling Change is 25 Generations of sports- or £22.99. IBOA has a limited number of copies for sale E men and women worked in to IBOA members at the special discount price of 10 or the banks including inter- £8 (including postage and packing). national rugby players, golfers Members who pre-order the book in advance of its and numerous GAA stars. publication date in March 2012 will receive copies From the unionism and specially signed by the authors, Paul Rouse and Mark Duncan, and by IBOA General Secretary, Larry Broderick. elitism of its earlier years to To pre-order up to two copies at the special discount the later militancy, the IBOA price, please send your name, address, the number of was unique in Irish life, re- copies required and your IBOA membership number to maining a 32-county organi- IBOA History Orders at IBOA House, Stephen Street Upper, sation. Dublin 8 or e-mail [email protected]. The evolution of the IBOA We will send you a special gift voucher which can be offers a fascinating picture of exchanged for the book (on payment of the special price) Ireland – not least how bank- Former bank official, when it is published.

ing moved from a thoroughly Christy Moore F THE UN NANCE BOA ON

december 2011 SPECTRUM 29 SHORT CUTS NEWS REVIEW SPECIAL FOCUS IBOA

TRAINING & DEVELOPMENT A matter of course

IBOA aims to offer an expanded range of exciting training and development opportunities for members and representatives in 2012. The Union is conscious that in a changing workplace, members need opportunities to develop new skills. A comprehensive schedule of courses has been developed – please check the IBOA websites for the course information and if you are interested in signing up, please contact Louise O’Donnell by any of the methods below. Courses for Members

Computer Training in NI IBOA’s Senior Industrial recent programme in interview leadership, conflict management, The first IBOA trainees on the Relations and Train- skills and techniques for IBOA mediation, career planning, computer skills training courses ing Officer, Marian members in Northern Bank. personal development, industrial currently being held in Northern Geoghegan, leads a relations, health and safety. Ireland are expected to gain their training session in Leadership Skills in NI Some of these courses were Level 2 City and Guilds certificate IBOA House. We are also in discussion on the particularly invaluable for members

www boa org uk in ICT in the first quarter of 2012. roll-out of a course in leadership whose job roles were changing We now have a top class skills – which will offer a recog- or who were experiencing some computer training suite in the nised qualification and will also uncertainty over job security. IBOA premises in Malone Road, be undertaken with support Much of this training was Belfast. from the Union Learning Fund in possible through IBOA’s involve- Through our participation Northern Ireland. ment in the Women at Work in Union Learning in Northern Skillnet. The current round of Ireland, we also have access to a Although IBOA’s partnership funding from Skillnets – which number of premises owned by with the Union Learning Fund is is in turn financed by the State’s the North West Regional College naturally confined to members National Training Fund – is unfor- as well as a panel of ICT tutors. in Northern Ireland, we are also tunately coming to a close at the www boa e Another ICT course begins in actively pursuing ways to develop end of 2011, as public spending January. Successful applicants a union learning culture for our budgets come under increasing who are on the waiting list will members in Great Britain. pressure. be contacted shortly. Some suggestions for courses However, if IBOA is successful At least one more ICT train- for members based in GB have in a new application based upon ing course will be arranged been made by the IBOA Youth a merger of two existing net- for the first quarter of 2012. So Committee. works involving IBOA and six interested members are advised other trade union organisations, to sign up as soon as possible. Republic of Ireland: Skillnet it will be possible to offer further and other training training for our members in Interview Skills in NI Over the past two years many Republic of Ireland. Other free training courses for IBOA members have acquired Since upskilling is important IBOA members are also being important skills in such diverse for the job prospects of members offered through the Union areas as communication, com- in the immediate future – and Learning Project – such as the puter training, employment law, ⁄ For further information on any course, check the IBOA websites or contact Louise O’Donnell BOA THE F THE UN NANCE BOA ON

30 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Health and Safety Training IBOA now has a group of well-trained Health and Safety Representatives in most employ- ments. As this is a critical step in ensuring a healthy and safe workplace for our members, the Union is working with employers to develop this further. IBOA is arranging more courses for Safety Representatives who will be notified of arrangements when finalised.

Equality Training A comprehensive equality course is also in development with an accompanying manual. This is aimed at the Union’s Equality Sub-committee and other IBOA activists interested in equality issues. A pilot course will run in the first quarter of 2012 – covering equality legislation, handling cases and complaints, and pursuing equality issues through collective bargaining.

On-Line Training The Union aims to pilot an on-line training course for IBOA with many employers cutting for IBOA Union Representatives Above: the Union’s Representatives in the first quar- back on their training budgets, in Republic of Ireland in the first new IT Training Suite ter of 2012. a new training network should half of 2012. at its Malone Road The course will include a not only attract support from As the first cohort of trainees premises in Belfast. union members but also secure on the FETAC-accredited (Level 5) number of short modules –which, co-operation from most of their pilot programme came through together, should take a maximum

employers. with flying colours, we are seek- of four hours to complete. www boa org uk ing applications from anyone The IBOA Youth Committee Courses for Activists who is interested in attending has volunteered to take part in this course which will be pro- the pilot and offer feedback so New Reps – 1 day vided initially in the regions that the finished course will offer One-day basic training courses where there is greatest demand. the best possible experience for for IBOA Representatives will be The three-day course will be our Representatives. held on a regional basis through- held over a number of weeks – Of course, this is not a sub- out 2012. The course is suitable rather than as a single block. stitute for face-to-face training: for anyone new to the role or This will enable participants to it is intended to complement who has not previously attended follow-up in the workplace what other training options for IBOA an IBOA training course. they learn on the course. Representatives who are keen to www boa e Participants will gain the The three course modules learn more. basic knowledge needed to take cover the role of the IBOA on this crucial role – as well as Representative, Handling Mem- Training Needs Analysis sources of further information to bers’ Issues and an Introduction Finally, we are working with ICTU enhance their capacity. to Industrial Relations. to develop a comprehensive The Union is in discussions analysis of the training needs IBOA Representative Skills – with ICTU Northern Ireland re- of Union Representatives and 3 days garding a similar roll-out of ac- officials at all levels. IBOA Representatives who have credited learning in Northern Members and representa- attended basic training or who Ireland in the second half of tives should avail of this oppor- have some experience and an in- 2012. A complete Training and Marian Geoghegan, tunity to have their views taken terest in pursuing accredited Resources Manual for IBOA Rep- IBOA’s Senior Industrial into account in the planning of training can avail of one of the resentatives has been developed Relations and Train- training provision for the next Union’s 3-day training courses to support the training courses. ing Officer. number of years. at [email protected] or phone 01-4755908 (from ROI) or 02890-200130 (from NI/GB). BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 31 SHORT CUTS NEWS REVIEW SPECIAL FOCUS IBOA

Union blasts new security threat to banks in Northern Ireland A threat by the Real IRA to Table quiz participants at the Kerry Christie Tribute night in the Belfast Bankers’ attack branches of banks Club. over located in Northern Ireland has been condemned by IBOA General Secretary, Larry Broderick. The threat by the dissident Republican group was made in a statement given to The Guardiannewspaper in Britain In a fitting tribute to Kerry – in which the group also Christie, IBOA’s former Ulster claimed responsibility for Bank Officer who died after a two recent bomb attacks on heroic struggle with cancer Northern branches of the recently – a special event in the Santander banking group. Belfast Bankers’ Club raised The Real IRA has claimed £9,550 for Marie Curie Cancer that the attacks are intended Care – the charity selected by to be reprisals for the banks’ Kerry’s family. role in undermining the Boosted by a donation of economy. £4,000 from IBOA, the £9,550 “No matter how angry total was the result of a major Presenting the cheque for £9,550 to Marie Curie Cancer were (from left) anyone feels at the betrayal effort from a team of energetic www boa org uk IBOA Ulster Bank Officer, John Burns; Lesley Wright (Marie Curie), Stephen by senior executives of Irish volunteers, co-ordinated by banking – and let’s face it Christie; IBOA Finance Officer, Sharon McAuley; and Jaynette Stirling (Ulster Bank Executive Committee member). the Union’s current Ulster Bank bank officials are entitled to Officer, John Burns. feel angrier than most,” said IBOA General Secretary, Larry Broderick, “threatening to launch attacks on bank branches is a totally dispro- portionate and completely misguided reaction.

www boa e “The danger to ordinary bank staff and to customers is obvious. Not only are they innocent of any responsibility for the current situation – they are, in fact, victims of it. “Attacking bank branches makes as much sense as attacking hospitals in protest at the health cuts!,” declared the IBOA leader. The Union is to raise this new threat with the authorities on both sides of the border as part of its ongoing E consultations with An Garda Presenting the cheque for 4,000 to the Irish Cancer Society were (from John Campbell, Honorary Secretary of the Síochána and the PSNI on the left) Kate Conroy (Irish Cancer Society), IBOA Finance Officer, Sharon one of the raffle prizes –a set of boxing gloves, security of bank staff. BOA THE F THE UN NANCE BOA ON McAuley; and IBOA Ulster Bank Officer, John Burns. former IBF World flyweight champion.

32 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

£9,500 for

Paying a warm tribute to the event featured avery enjoy- Kerry, Union General Secretary, able celebration – marked with Larry Broderick, also presented sparkling wine and chocolates – her husband, Stephen, with a and including a very enter- specially bound and printed taining table quiz which hard copy of the virtual book tested the wit as of condolences which had well as the wis- been compiled by friends and dom of all of the colleagues in messages to the participants. IBOA website. IBOA has The event also included a also made a moving video collage of images donation of highlighting different aspects ¤5,000 to www boa org uk of Kerry’s life. the Irish Finally in keeping with Cancer Kerry’s own fun-loving spirit, Society. www boa e

IBOA Ulster Bank Officer, John Burns, with his Belfast Bankers’ Club presents wife, Lorraine (Left) and IBOA Adminstration Pictured at the unveiling of the plaque for the Kerry Christie Room in the Belfast signed by Dave Boy McAuley Manager, Jane Higgins, at the Kerry Christie Bankers’ Club were (from left) John Burns, Jaynette Stirling, Larry Broderick, Stephen

Tribute night in the Belfast Bankers’ Club. Christie, Amy Christie and Olivia Christie. F THE UN NANCE BOA ON

december 2011 SPECTRUM 33 HR USNEWSREVIEW SHORT CUTS 34

BOA THE F NANCE UN ON www boa e www boa org uk already planned. overcame Gerry but a eventually Larryrematch threat.under is that the course record mixedwas standard, never it is safe to say Withbothproducing golfa of day. the on guests as played Broderick,and Senior Industrial posal being actively canvassed by RelationsOfficer, GerryHanna, some! petitions. A blindfold ishandicap a toonefuturefor com pro- - suggestion that he be prompting thesubjected Keith Feehily – waswonforthe third timeby Jessie Doherty, in second place.last year’s winner, wonIBOAbyPauline NeedhamPresident with Eddie Rouillier in second placeexcellent with Billyscore Moloney of 42 instableford third. points closely followedblessed home with by some good weatherwithsome bad forweather recentina change.years, wasitsonice beto very pleasant summer’s day.men The and competitionthe other for has ladies both been of – whichplagued were played on a SPECTRUM Athlone during the near Country Club andsummer. Glasson Golf the atplace Theannual IBOA Golfer of the Year competition took of the Year IBOA Golfer The prize for nearest the pin Theladies’ competition was an with Ross Liam competition men’s by The won was The event comprised two stableford competitions one for – IBOA General Secretary, Larry SPORTS & SOCIAL december 2011 december 10% discount for IBOA members McInerney Sports Travel Ltd. on travel packages to top soccer matches For booking call 1850- 206080 from the Republic or 00-353-61-228022 from Northern Ireland. in Britain, Scotland and Spain. www.mcinerneysports.com watched by Union General Secretary,IBOA President,Larry Broderick.Jessie Doherty, presents the men’s trophy to Liam Ross – Needham watched – by Union General Secretary,IBOA PaulinePresident, Doherty, Jessie to ladies’ trophyLarry presents the Broderick. PCA OU IBOA SPECIAL FOCUS NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

SPORTS & SOCIAL

IBOA family day Belfast Banker’s Club is favourite haunt at at Belfast Zoo The Annual IBOA Day at Belfast Zoo continues Halloween to be a very popular Pictured above and below are some of the Halloween event with members revellers who haunted the very successful Fancy Dress night and their families and at the Belfast Bankers’ Club recently (Photos Dominic Boyd). friends. Just under 700 people availed of the opport unity to gain free entry to the sights and sounds of the www boa org uk animal kingdom – thanks to IBOA! All photos: Robert Thompson. www boa e BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 35 HR USNW EIWSEILFCSIBOA SPECIAL FOCUS NEWSREVIEW SHORT CUTS 36

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM challenging agenda. differencereal tacklingin this Irishbanking, IBOA a can make the Union’s strength building members andthroughoutyoung mobilising by thatoptimistic Committee Youth remains the upbeat background, and cult continues to contract. and far between as Irishment which bankingare likely to be few advance- career whichprospects for in future a face staff lowering of a morale and among stress excessive create staff. managementare combining to anoppressive culture of micro- other targetssales and within as the ongoing pressure ofto meetdisciplinary procedures as well recently. the IBOA Youth by discussion Committee for tabled financial services theworkers employed in sector were particular concern towiderangeA issuesof young of Standing up for better banking Despitethis extremely diffi- the Atsame time, younger Lowpay, unreasonable use YOUTH COMMITTEE december 2011 december Clancy). MichaelKeogh, Imelda Boyle, Derek McManus, (fromKieran left) McCann front:and CiaraGareth Murphy Clarke,(Secretary) Members Zoe O’Neill,(Photo: of the TommyRebecca Union’s Craughwell, Youth JessieCommittee Doherty, with theLarry PresidentBroderick; back:and GeneralAlan Challis, Secretary: e Ya t dvlp a develop to Year New willmeet again early inthe h Yuh Committee Youth The sectoremployees. Thenext financial younger tosupport initiatives of number Chairperson. meeting will also elect a new NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Senior Industrial Relations Officer, Steve Tweed Steve takes his leave Senior Industrial Relations Officer, Steve Tweed, is to leave IBOA to take up the post of Director of Industrial Relations with the Irish Medical Organisation. Steve joined the staff of IBOA in 2008 – taking on particular responsibility for AIB Group and Ulster Bank – which have both faced substantial challenges during the period – with almost 1,000 redundancies already introduced in the latter and over 2,000 more jobs declared to be under threat in the former. Steve has also provided committed support to IBOA’s Executive Sub-committee on Safety, Health and Security. The cup that cheers: Renee Dolan clutches the PGA Tankard after her victory in the national final

Paying tribute to Steve’s contribution www boa org uk in Druids Glen recently. to the work of the Union, IBOA General Secretary, Larry Broderick, said that IBOA’s loss would be IMO’s gain. “We are sorry Renee’s cup runneth over to see him leave and wish him all the best in his new position.” IBOA member, Renee Dolan, is the Union’s latest All-Ireland champion. She beat off stiff competition to win the PGA 10% off all products Tankard National Final at Druids www boa e Glen recently. purchased in the Renee who plays golf at her local club in Carrick-on-Shannon Republic of is also a member of IBOA’s Ulster Ireland or Bank Executive Committee. Some of the Union’s other Northern Ireland sporting All-Ireland winners had a rather more disappointing end on presentation to their championship seasons. Brendan Cummins was in of your IBOA goal for Tipperary as they surrendered their senior hurling membership crown to Kilkenny – while Colin card in store. Cooper suffered a similar fate with Kerry in the football final

against Dublin. F THE UN NANCE BOA ON

december 2011 SPECTRUM 37 HR USNEWSREVIEW SHORT CUTS 38

BOA THE F NANCE UN ON www boa e www organise.” fore labour must ises and there- Capital organ- organisation. This is an era of of labour. be organisation that there should “ It is essential SPECTRUM Theodore Roosevelt redundancies in 2009. losses on top – of almost 1,000 formation Project. continuing areon the IBOA Bank’s andTrans- management Talks between Northern Bank AT NORTHERN INTENSE TALKS which could result in majorfurther jobrestructuringcompany, RBS, programmetoengage ina – pressure parentcant its from management under signifi- is Aswe go to press, Ulster Bank CUTS FEAR ULSTER JOB Employee Committee electionseek European theof to RBS. IBOA candidates from Ulster Bank ELECTED! workdirect december 2011 december See Page 42 See Page 41 See Page 42 (above) high-levela meeting between NIB ChiefExecutive, Andrew previousHealy experience of theuse pensions of third debacle. parties The to agreementresolveship agreement, issues,follows building in order on the needtoNational avoidfor ongoing aIrish repeat discussions Bank of and andthe IBOA have now concluded a futureNEW relation- RELATIONSHIP PACT AT NIB Broderick, has warned UnionGeneral Secretary, Larry EU Commission over a yearViabilityPlanagreed withthe ago, the implementation of cure agreementsif they wish to se- all honour should Ireland of TheGovernment and the Bank BOI STALEMATE and IBOA General Secretary, Larry Broderick. PCA OU IBOA SPECIAL FOCUS See Page 43 eea Sceay Larry the Bank’s senior management. Secretary,Broderick, whohaswritten to General IBOA to according levels, of of the institution on a number cerns about the future directionStaffhaveAIBseriousin con- AT AIB TENSIONS RISE See Page 45 See Page 40 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

Future still uncertain for Irish banking writes Larry Broderick, IBOA General Secretary

The Republic’s Minister for Finance, Michael Noonan (Photo: Photocall-Ireland)

Irish banking is at a crossroads. Despite Indeed, the situation is as uncertain need to treat staff in a fair and reasonable the Irish Government’s commitment to now as it was a number of months ago manner and not vilify them just because a two-pillar banking system a number of with new variables being introduced to they are bank workers. months ago, we are still unclear as to the the equation on a daily basis. It is a cause of particular concern to future shape of the sector. However, for the vast majority of staff IBOA that many of the decisions taken on Although offering some measure of in Irish banking, the sector will be a lot banking seem to be based on the lowest comfort to staff in AIB and Bank of Ireland, smaller with thousands more jobs to go kind of political expediency rather than

the initial announcement generated – on top of the jobs already lost since on sound banking sense. www boa org uk much speculation and uncertainty about 2008 Those in authority need to recognise the future of the four other banks IBOA estimates that over the next that bank staff are human beings with covered by the Government guarantee – eighteen months we could see up to families, are part of the community and as well as the role of foreign-owned 6,000 further job losses. What is damn- should not be pilloried just because they banks in Ireland. ing is the lack of any focus or attention happen to work in this sector. IBOA has continually argued that, as on these job losses. Similarly, management in the two part of any Government strategic review IBOA has continually called for a jobs pillar banks also need to take stock. For of the future of the Irish economy, an initiative aimed at protecting jobs into them to succeed they need to respect the extensive review of Irish banking is also the future. Of course, a jobs initiative can loyalty and commitment of staff – rather required. only be based on an underlying strategy. than undermining them at every turn. Over seven months after the Finance But it appears, at the moment, that there IBOA continues to make representa- www boa e Minister’s announcement of the two- is no overall integrated strategy for Irish tions to Government, the Regulator, the pillar approach, we see Bank of Ireland banking. Instead each bank does its own EU and the Troika on the importance of established as an independent bank with thing in terms of lending, customer a strong banking sector, committed bank 15% only State ownership. support and, indeed, staff support. officials and implementing change in a AIB is now over 99% state-owned – It is a tragedy that staff on the front- fair and reasonable fashion with staff but paralysed, it would seem, in develop- line, who are being required to manage interests given due regard as key stake- ing a plan for its future. customers through the most difficult holders along with customers and tax EBS has been merged into AIB but period in our history, are faced with payers. with considerable lack of clarity as to how wide-ranging change while at the same Let us not forget that bank officials that merger will operate into the future. time many of the culprits who created are taxpayers too and, will be making Anglo Irish Bank and Irish Nationwide these problems have walked away on enormous sacrifices for the future of the have been merged into the IBRC which is golden parachute pensions and extremely economy. It is hoped that with the to be wound down over twelve years. generous benefits. emerging realities across Europe, those Irish Life & Permanent is to be broken Even more galling is the inability of in influence in Irish banking will review up into a retail bank, with its life business key decision-makers to understand the their position to provide more protection sold off. However, that sale has recently key role of bank officials in promoting for our members in the same way as they

come unstuck – so major doubts remain. economic recovery and to recognise the protect themselves. F THE UN NANCE BOA ON

december 2011 SPECTRUM 39 HR USNEWSREVIEW SHORT CUTS 40

BOA THE F NANCE UN ON www boa e www boa org uk customers in of Ireland. implications theGroup’s plans the forits staff and discuss meetingto early an seek to Bank, tions,IBOA General Secretary Larry ainl rs Bn ad Gerry and Mallon, Chief Bank Executive Irish of NorthernNational both Executive Healy,Andrew of Chief to written has Broderick, challenge these commitments. will Group Bank future Danske of Inevitably,National Bank. Irish the SPECTRUM priority,in both Northern Bank and arrangementsfor job securing security, as ina successfulextremely other banks, is faced with future plans. ofthe senior management on their vance. sentedDanskein Bankad-metin Group’sstrategy, unionsallrepre- sentatives in Danske Bank. Danske Bank Group by seniorgiven repre-torepresentatives across the on 28 and 29 November. Works’Council met in Copenhagen TheDanske Bank Group European by Works Council plans discussed Danske Group Danske Works Council meeting.one of IBOA’s was (above) ThompsonrepresentativesRobert atIBOA the DanskeBank Group Officer, Inthe wake ofthese presenta- major challenges. IBOA has been Undoubtedly,Danske Bank, like Searching questions were asked DanskewiththelineUnion In were presentations Extensive DANSKE GROUP december 2011 december challenges facing National Irishpositive Bank. development in light of the various avoidarepeat of the previous experience of third parties to resolve issues, in order to of the pensions debacle. theneed for ongoing discussions and use IBOA General Secretary, Executive, Chief NIB Andrew Healy,Larry and Broderick, the standing issues following the recent Labour future relationship concluded a nowagreement, have IBOA and Bank building on Court recommendation. between the parties have now resolved out- shortly on key issues Further talks due with management at National Irish Bank New relationship pact pension arrangements, further discussionsthe Bank’s plans for Followingthe introduction the difficulties of encounterednew over Larry Broderick has welcomed this as a fe a ih ee meeting between level high a After NATIONAL IRISH BANK National Irish Bank Chief Executive, Andrew Healy. (Photo: Leon Farrell/Photocall Ireland) PCA OU IBOA SPECIAL FOCUS the IBOA leader. National to commitment Irish Bank’s Bank Danskeinto thegiven future,” added be recognised as part of an overall solution, years,” declared Broderick. haveendured significant change in recent Secretary, Larry Broderick.some considerable time,”issues outstanding which been have forsaid IBOA Generalthe coming weeks to try to progressnewroles, thesekey meetings will take place in of career progression and job evaluation of these agreements into the future.mentto remain in Ireland and to honour Danske Bank Group reaffirmed its commit- “Their patience and loyalty should now “Ourmembers Nationalin Irish Bank “On the thorny questions of pay, review discussions, these of course the In NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

NORTHERN BANK

Talks: IBOA’s Senior Industrial Relations Officer, Gerry Hanna .

There have already been re- structures in a number of area, such as. Development Ireland, staff on the resource register and a number of branch closures have taken place. Intense talks at Northern In essence, the Bank has achieved its overall objectives, in line with the job security agree- Northern Star transformation ment, with most members in these particular areas opting for voluntary early retirement . programme continues IBOA’s Senior Industrial Relations Officer, Gerry Hanna In recent months, IBOA has been commitment that any redundancies in along with the Union’s Northern

focussed on Northern Bank’s major Northern Bank will be introduced on a Bank Executive Committee will www boa org uk voluntary basis, in line with agreed terms meet the Bank for further talks restructuring programme, Northern and with a particular focus on early retire- and will be watching very closely Star. ment. what emerges from the overall At an early stage, the Bank reaffirmed its In the high-level discussions to date a plans of Danske Bank Group, commitment to honour the existing job number of themes have begun to emerge and in particular its potential im- security agreement, which gives a very clear which will affect staff in key areas. pact on Northern Bank. Talks on PMP

10% discount for IBOA members www boa e under way on trips to major sporting events Management at Northern Bank is engaging with IBOA on in Britain, Scotland and Spain – the performance management process (PMP) which is due to as well as other holiday attractions in Britain. will roll out in the New Year. The Union has taken part in lengthy discussions on the For more information phone 00-353-1-6292000 or 00-353-21-4377501, matter. Comprehensive briefings will issue in due course – which e-mail: [email protected] or will also be posted on the Union websites. visit our website at All members in Northern Bank should ensure that they www.celtichorizontours.com have keep abreast of the IBOA

guidelines on this issue. F THE UN NANCE BOA ON

december 2011 SPECTRUM 41 SHORT CUTS NEWS REVIEW SPECIAL FOCUS IBOA

ULSTER BANK Elected IBOA takes ROI seat on RBS employee council and seeks more for Northern Ireland

IBOA nominee, Tommy Kennedy, has been elected unopposed to serve on the RBS European Employee Council (EEC) for the Republic of Ireland constituency. Two of Tommy’s Ulster Bank colleagues in Northern Ireland – Jaynette Stirling and Joe Allsopp are also seeking election to the RBS EEC – Jaynette in the UK Retail, Wealth and Ulster (RWU) constituency and Joe in the UK Tommy Kennedy Business Services seat. As both constituencies that span both Northern Ireland and Ulster Bank Head Office at George’s Quay, Dublin Great Britain, the two candidates (Photo: Mark Stedman/Photocall-Ireland) are banking on strong support from colleagues in Northern Ire- land to ensure that Ulster Bank staff in Northern Ireland achieve representation on the EEC. More job cuts IBOA has played an active role in RBS European Council with the late Mary Sexton and the late Kerry Christie each serving as feared at Ulster Joint Chairs of the Council. www boa org uk Indeed just three weeks before Jaynette Stirling her death, Kerry signed off on an As we go to press, there are IBOA has already communi- important new agreement with strong indications that cated the concerns of members RBS. Ulster Bank management is in Ulster Bank to senior manage- Tommy, Jaynette and Joe are under significant pressure ment – warning that the ongo- determined to ensure that their from its parent company, ing uncertainty is both unsettling legacy will be honoured with and demotivating for staff. strong IBOA representation and RBS, to engage in another While the Bank has confirmed active participation in the work major restructuring pro- that it is engaged in a major eval- of the Council in future. gramme – which could Members in Northern Ireland www boa e uation of the Bank’s structures, result in further job losses – it has yet to finalise its future can cast their votes – no later in addition to almost 1,000 plans in consultation with RBS. than 5pm on Wednesday, Decem- redundancies implemented Nevertheless, the pre-Christ- ber 14 – at the dedicated web- in 2009. mas period is likely to be one of site: www.votebyinternet.com/ The Bank has already com- great uncertainty for thousands Joe Allsopp rbseec11/ mitted to engage with IBOA and of staff in Ulster Bank, who are has acknowledged the role of surprised that RBS could force Ulster Bank Northern Ireland collective bargaining agreements Ulster Bank to engage in further in its future plans following the restructuring – while at the same RBS European Employee Council recent comprehensive recom- time rewarding senior executives Vote for JAYNETTE STIRLING mendation by the independent in the parent company with UK Retail, Wealth and Ulster Constituency mediator, Martin King. bonuses totalling millions of As rumours abound about pounds. Vote for JOE ALLSOPP the Bank’s restructuring plans, This double-think is quite UK Business Services Constituency the Union has urged senior man- breath-taking and will be raised Vote on the dedicated website: agement to clarify the situation by IBOA in its future engage- www.votebyinternet.com/rbseec11/

BOA THE F THE UN NANCE BOA ON at the earliest opportunity. ment with the Bank. by 5pm on Wednesday, December 14.

42 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

BANK OF IRELAND CUSTOMER SERVICES Staff in customer service centres get organised Earlier this month, IBOA workplace representatives from AIB’s Direct Chan- nels, Bank of Ireland’s Banking 365 and Ulster Bank’s Dublin Mortgage Centre held the first meeting and training day of the Union’s Customer Service Staff Net- work – as part of the Union’s Customer Service Initiative (CSi) campaign. At the meeting, the reps highlighted a number of issues common to staff in these working environments as well as identifying possible solutions to remedy the problems. A full report on the outcome of the meeting will be presented to the IBOA Executive Committee with a strong recommendation to extend the Union’s CSi campaign to focus on: • training and education; Bank of Ireland, Baggot Street, Dublin. • raising member awareness and (Photo: Sasko Lazarov/Photocall Ireland) participation; • building IBOA’s membership in these areas; and • ensuring that the local issues facing these staff form part of the Union’s wider negotiating agenda with each

BOI stalemate employer. www boa org uk Department of Finance stalls after mediator’s recommendation agreed CHAPTERS The Government and the Bank of Ireland though both the Bank and the Union had BOOKSTORE should honour all agreements if they accepted the revised recommendation, Parnell Street Dublin 1 wish to secure implementation of the there appears to be some reluctance on Viability Plan agreed with the EU Com- the part of the Department of Finance to mission over a year ago, declared Union allow the agreed recommendation to be www boa e General Secretary, Larry Broderick. implemented. The IBOA leader was addressing a In his address to the Union’s Bank recent meeting of Union activists in Secretaries in Bank of Ireland, the General 10% Bank of Ireland, called to review recent Secretary indicated that IBOA had no developments including the revised interest in engaging with any bank or discount recommendation by the independent department that could not honour exist- mediator, Mark Connaughton SC – which ing agreements. for IBOA constitutes a key element in the Bank’s “If this remains the position,” he EU Viability Plan. declared, “IBOA will not co-operate with members Mr. Broderick acknowledged the any form of restructuring in Bank of positive and constructive approach taken Ireland.” by the Bank’s senior management by The two-day meeting was very con- engaging with the Union from the out- structive and beneficial. It provided a very Show your IBOA set, by sharing all aspects of the plan with informative insight for Bank Secretaries the Union, and by working to secure an on the major challenges facing financial membership card overall agreement. However, he added, services staff not just in Bank of Ireland, at the pay point

he was extremely disappointed that, even but in the sector as a whole. F THE UN NANCE BOA ON

december 2011 SPECTRUM 43 HR USNEWSREVIEW SHORT CUTS 44

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM 15, 2011. 15, Dublin 8 or byemailto: [email protected] to arrive no later than 5pm on Thursday, December Secretary, General Broderick, Upper, Street Finance Stephen The House, IBOA IBOA Union, Larry Mr to post by confidence in letter covering and vitae curriculum detailed a forward should Applicants position and the experience of the successful candidate. A competitive remuneration package will beoffered –commensurate with the responsibilities of the and in representing staff in various industrial relations fora. successful candidate will have a proven track record in leading collective negotiations at company level A good communicator with the ability to work effectively as part of a dynamic team of professionals, the Britain. Great and Ireland Northern Ireland, of Republic the based in Dublin, IBOA themembersin Senior Industrial Relations Officer will play a keyrole in servicing IBOA now wishes to appoint a Senior Industrial Relations Officer. and Reporting to the General Secretary IBOA The Finance Union is the leading trade union representing staff in Ireland’s banking and finance sectors. Senior Industrial Relations Officer IBOA –TheFinance Union december 2011 december IBOA is an equal opportunities employer. opportunities equal an is IBOA PCA OU IBOA SPECIAL FOCUS NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

AIB GROUP

AIBIM sold to South African investment company

AIB has agreed to sell its asset Barry Flanagan’s Hare sculpture at AIB Bankcentre in Ballsbridge, Dublin. management division to South African investment management company, Prescient Holdings for an undisclosed sum. The sale is Tensions continue expected to be completed in the first quarter of 2012. Based in Dublin, AIB Investment Managers (AIBIM) employs over 100 staff to rise at AIB and is reported to have had E8.4 billion in assets under management as of last month. Staff in AIB have serious concerns about the Bank appeared to be trying to walk IBOA will seek talks with Prescient the future direction of the institution on away from its contractual obligations to management with a view to protecting www boa org uk a number of levels, according to IBOA the majority of staff. the terms and conditions of employment General Secretary, Larry Broderick, who The Union intends to give the new for IBOA members in AIBIM. has written to the Bank’s senior manage- management team with its new Chief AIB was required to sell its asset man- ment in the wake of a recent meeting of Executive – an opportunity to return to agement arm last year as part of the re- the Union’s AIB Executive Committee, the negotiating table to discuss, in an structuring arrangements demanded by In a comprehensive letter to the open and transparent fashion, the future the European Commission in return for Bank’s Head of Human Resources – direction of the Bank. Should AIB man- substantial public investment in the Bank. copied to the new Chief Executive, David agement decline to engage meaningfully Irish Life Investment Managers (ILIM), Duffy – the IBOA outlined the serious with IBOA, the Union will be forced to had been originally been selected as the concerns of staff at the management consider alternative action to highlight preferred bidder for AIBIM at a reported

ethos operating within AIB. staff frustrations and concerns. price of E20m-E25m. However, when the www boa e In particular, he highlighted the “I hope that the appointment of the March round of stress revealed that its inconsistency in the Bank’s position in new Chief Executive will provide a basis parent, Irish Life & Permanent, had to attempting to change terms and con - where real engagement can now start to raise E4 billion in extra capital, ILIM with- ditions of employment for new staff, take place between IBOA and AIB,” said drew from the process. at a time when the Bank was contem- Broderick, “in order to facilitate the final- plating over 2,000 redundancies among ising of an Independent Tribunal and to existing staff. resolve the outstanding issues on the He criticised the Bank’s failure to Bank’s restructuring plans.” engage constructively with IBOA on the In the meantime, IBOA has asked For the latest news on issues of redeployment, retraining second - members to engage with each other at workplace developments, ment and, in particular, the Bank’s breaches local level, – to highlight further any con- special member offers on the agreed policy on promotions. cerns and frustrations and to share them On the issue of remuneration, the with IBOA Executive Committee mem- and discounts and General Secretary highlighted the recent bers. This will feed into the Union’s over- sports and social events revelation that a small number of staff in all campaign to ensure that a change see www.iboa.ie or the institution have been awarded agenda is implemented in AIB in a fair special pay increases, at the same time as and reasonable fashion. www.iboa.co.uk BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 45 SHORT CUTS NEWS REVIEW SPECIAL FOCUS IBOA direct BRENDAN SEES STARS

Decades of Stars is the latest labour of love from the pen of retired bank official and IBOA member, Brendan Fullam. It is a FOR THE TOT WHO HAS EVERYTHING! collection of articles on hurling Toy-makers, Fisher Price, have launched a new toddler-proof case for heroes from every decade of the the iPhone to enable babies to play games on the mobile device. GAA’s existence. What’s wrong with just giving them toys? See Page 52 See Page 48 style

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• 10% off glasses, contact lenses and designer sunglasses, plus FREE eye test • FREE 2nd pair of glasses (including bifocal and varifocal lenses) • 10% laser eye surgery, FREE consultation, plus 10 months www boa e British jazz interest free credit singer, George • 10% cosmetic treatment, FREE consultation, plus 10 months interest free credit Melly, once asked Mick Jagger why his LEARNING TO GET face was so YOUR MESSAGE wrinkled. ACROSS “Laugh lines,” Former bank official and IBOA mem- Jagger said, ber, Sheila Hoctor, is the co-author of to which For more information, check the IBOA websites: a new book called “Better Commu- Melly replied: www.iboa.ie/members/otherservices/iboaplusdiscount.html nications and how to achieve it” – or www.iboa.org.uk/members/otherservices/ which explores why we communi- “Nothing’s that iboaplusdiscount.html cate and how we could do it better.

BOA THE F THE UN NANCE BOA ON funny.” See Page 53

46 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

SELF HELP 1 Performing

withFlourishing people a are notflourish just happier – they are more productive, more innovative and creative, have better judgement and make better decisions. • They are more realistically optimistic. • They are more resilient in dealing with set-backs and frustrations. • They are more effective at setting and pursuing goals. • They are better at motivating and managing other people. • They are quicker to see and exploit new opportunities. • They achieve better balance in their lives. Maureen Gaffney addressing the Union’s Biennial Delegate At a time of deep crisis, the Conference in 2009. notion of flourishing seems unimaginable. However, psycho - Her message is that we can Flourishing individuals who are logist, Maureen Gaffney, believes do this and in this exciting and successful and healthy average passionately that not only is it innovative book she shows us 4.3 to 1. But high performing possible for us to flourish, but in how. teams and organisations show an increasingly uncertain world, Gaffney not only draws on significantly more positive be-

it is essential that we plan to do so. her lengthy experience of work- haviour with 5.6 positive inter- www boa org uk Flourishing is about achiev- ing with many diverse organisa- actions for every 1 negative. ing a deeper sense of well-being, tions and individuals – but also They adjust their thinking meaning and purpose in spite correlates a fascinating body and their behaviours to be of – and indeed very often of recent research into the significantly more positive than because of – adversity. characteristics of high perform- their baseline state. Indeed, Maureen Gaffney ing teams and companies. Learning to flourish and help - explains that adversity can be a One striking feature is the ing others to flourish, according positive turning point in our lives ratio of positive versus negative to Gaffney, is the most powerful if we decide that our goal is not interactions. A typical person and worthwhile investment we merely returning to the status averages 2.5 positive inter- can make in our own well-being quo, but having better lives. actions for every negative one. and in our country's future. www boa e BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 47 SHORT CUTS SPECIAL FOCUS IBOA

CONSUMING PASSIONS Now for the tot who has everything …including parents with more money than sense, perhaps! When two iconic brands are combined, it can often produce something remarkable. Apple and Fisher-Price are world leaders in their field – but Fisher-Price’s new ‘Apptivity case’ for the iPhone seems to be based on a rather strange “The Apptivity case provides a So why would you use a real phone premise. safe way for babies to play and learn as a toy for a baby who may not even The idea is that by enclosing an i-Phone in from baby-friendly apps without the be capable of talking –never mind this colourful rubberised toddler-proof case – worry of them breaking the phone.” actually making a call? Nice try, Deborah, but when you’re The answer to the bind Fisher-Price complete with chunky handles, rattles and in a hole stop digging! has created for itself is in the word, rings – it will enable babies to get to grips with www boa org uk The core of this new product is still “toy,” which the company is generally the device without damaging it. a phone –and not just any phone but a very good at – but which on this occa- Fine – but why would you want to let the real fully functional and quite pricey sion it seems to have lost sight of – in a baby play with an iPhone in the first place? smartphone. bid to chase the latest ‘cool’ trend. According to Deborah Weber of FIsher-Price, “babies love to copy mum and dad. It’s all part of learning about the world they live in. As technology becomes a bigger part of everyday life, it mskes sense that even the youngest members of the family are interested in taking part too. Exclusive Discounts www boa e and Special Offers for IBOA members only! For more information on the latest special offers for IBOA members, log on to: www.iboa.ie/members/otherservices.html or www.iboa.org.uk/members/otherservices.html BOA THE F THE UN NANCE BOA ON

48 SPECTRUM december 2011 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE www boa org uk www boa e BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 49 50

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM

If there is a change in your employment circumstances like – moving onto part-time hours or changing to job-sharing, you may be entitledmaybe lower availtoasubscriptionof rate.The currentmembership categories and rates are published on the two IBOA websites at www.iboa.ie/join/subscriptions.html and www. iboa.org.uk/join/subscriptions.html. assoon aspossible Please make sure you inform IBOA Head Office of any change

dutd–andadjustedyou receive – prompt refund of any overpay-

ments. Pleasenotethatrebatethe overpaymentsanyfor willbe Youcan check your personal profile online in the Members the change of status occurred.capped at the amount overpaid for the

OnlySection of the Union website and make any necessary amendments there – or you oramendmentscancontact theMembershipthere – IBOA House • Stephen StreetMembership UpperDepartment • DublinIBOAThe•Finance Union8 • • Tel: 01- Department in Head Office at the address below.

750 (rm O) r 02890-2001304755908 or ROI) (from NI/GB) (from •

E-mail: [email protected]

Claiming A Refund Special IBOA tickets sold out! – Special IBOA tickets sold out! – Grand Opera House, Belfast, Tuesday 27 December 2.30pm. SPORTS Tickets: special IBOA price of £15 (up to 6 per person) Parterre: Normal Price Gaiety Theatre, Dublin Tuesday 27 December

Your IBOA Subscriptions: (For more information, see bottom right) (For more information, see bottom right) & SOCIAL

sothat your subscription rate can be december 2011 december E 4 IBOA34 Price –

first 24 months

E 24

after AND 2.30pm January 2012 Saturday 7 THE JEDWARD Price – Special IBOA E Special IBOA tickets sold out! – Special IBOA tickets sold out! – Special IBOA tickets sold out! – 5 Booking Fee. For more information on any of these at IBOA House, Stephen Street Upper, BEANSTALK vns–includingevents – booking forms – in the Sports & Social Department, please check the IBOA websites at www.iboa.ie or www.iboa.org.uk

E PCA OU IBOA SPECIAL FOCUS 30. 02890-200130 (from NI/GB). or contact Anna or Louise 01-4755908 (from ROI) or Dublin 8 or by phoning See below for more info. NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

CLUB OPENING HOURS: THE IRISH BANKERS’ CLUB Tuesday-Saturday: 4.30pm IBOA HOUSE, STEPHEN STREET UPPER, DUBLIN 8 until late. Telephone: 01-4758970 10am-12noon or after 5pm (Tuesday-Saturday). Sunday-Monday: closed.

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New members welcome – Friday December 27: Cost only ¤20 per annum! 1st Prize – Two weeks’ holiday Facilities include: for two in Lanzarote • Special room hire rate of E100 2nd Prize: E300, 3rd Prize: E250, • Bar and meeting room facilities. • Catering and DJ facilities available E 4th Prize: 200. • Big screen for all sporting occasions

• Full bar licence – extensions available www boa org uk

Friday February 24: For more information, please contact Michael Martin, Honorary Secretary, Irish 1st Prize – Two weeks’ holiday Bankers’ Club at the address above. for two in Gran Canaria Results of recent Bankers’ Club draws E E 2nd Prize: 300, 3rd Prize: 250, are posted on the IBOA websites: E www.iboa.ie/services/sports 4th Prize: 200. www boa e andsocial/bankersclub.html All Draws at 9pm. Bar Food Each Draw Night www.iboa.org.uk/services/ from 5pm-10pm plus Big Attendance Prizes sportsandsocial/bankersclub.html

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All IBOA members, Club members and their friends or family members can book the Irish Bankers Club for a party or special function for just ¤100 during January, February, March and April DON’T MISS OUT – BOOK TODAY BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 51 HR USNEWSREVIEW SHORT CUTS 52

BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM NEWBRIDGE. AND MAYGOREY, NAVAN NOOTH, CORK, DROGHEDA, DUBLIN,* DUNDALK, Cook Culn Fnls Grafton Finglas, Crumlin, Coolock, * AT HICKEY’S PHARMACIES IN ARKLOW, tet Hrl’ Cos Hny Street, Henry Cross, Harold’s Street, ’onl Sre, na, Phibsboro, Ongar, Street, O’Connell Santry, Tallaght, Terenure and Tyrrels town. GAME TIME (excluding medicines and prescriptions) 10% discount for IBOA members on all products HICKEY’S PHARMACIES december 2011 december own words. players’ thesportsmanship in uniqueinsights on success and Decades of Stars as photographs and autographs,the players by Brendan as well – interviews conductedon with from 15 counties many based – Packed with articles on 116 players with affection “Brendanand knowledge.”Fullam's books glow never tasted All-Ireland success.both of whom, like manyKenMcGrathtoWaterford, of others, from Kevin Armstrong of eighthAntrim All-Ireland Henry medalShefflin to in 2011; 1897, of Kilkenny, in Limerick who won his andonly All-Ireland first his medal won with who Hanly, Óg of the GAA’s existence,hurling fromheroes Seán from every decade member, Brendan Fullam. IBOAretired official bank and labouroflove from the pen of StarsDecades of behind the hurling legends New book examines the ordinary men seeing stars Brendan still It is a collection of articles on ‘King’ Henry Shefflin. PCA OU IBOA SPECIAL FOCUS provides many – Con Houlihan s h latest the is the Ash GiantstheAsh,ofCaptains Ash,of the of LegendsGiants, previousbooks include posterity.worktobodyof His valuable a provided has and about almost 300 Gaelic players when Cork beat Cavan in 1945.memoryfootballaofis final – Yet, strangely enough,anearly hisage in earliesthis native parish. but especially hurling began – at he hurled with the local team.shannonand where Wexford – Killorglin,Kilrush, Ireland:Clifden, of Bally- many parts tohim banking career took in career Co.Limerick, Brendan Fullam’s the great game of hurling. poignant tribute to yearsthethisuniqueshineinand players of fifty past the stars of the and The mighty names of early times of nobility.” “Fullamleads us into aworld Over the years he has written His interest in Gaelic games – Although a native of Ardagh, Brendan Fullam and Lest We Forget. – Kevin Cashman Hurling NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

SELF HELP 2 Learning to get your message across

Former bank official and IBOA member, Sheila Hoc- tor, is the co-author of a new book called “Better Communications and how to achieve it” – which explores why we communi- cate and how we could do it better. It offers practical advice which may be useful to people on filling out questionnaires, speaking in public, taking part in meetings, interview skills, under- standing IT, writing letters and business documents as well as many other useful insights. www boa org uk The book also has helpful tips on the small points that often trip us up – from basic spelling and grammar to the correct protocol to use online. It is also up to date with information on modern communication technology. Published by Kerry-based company, educate.ie, the book

is available online or from most www boa e good bookshops for ¤12.00. After thirty years with Bank of Ireland, Sheila has become a business, interview and life coach, drawing on her experience in the business world to provide concrete and practical examples for the text. She has designed training Great savings and offers for IBOA members in Great Britain programmes for many groups. Sheila also shares her insights and Northern Ireland from Thomas Cook – into the very important skill of public speaking. including a 6% discount on thousands of holidays. Her co-author, Karina Lynn, Check the Members Only Section of specialises in the use of communications technology as well the IBOA websites for more information.

as in written communication. F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e SPECTRUM snooker. something like in England is Apparently sex foot on the floor. seducer has one unless the seduction scene will not pass any of Film Censors The British Board

Fred Allen StephenMalone takes aheavy events of recent weeks. ironto some of the below-par Wayoff line and in the rough, NICKLAUS? GOOD WIN FOR leisuredirect december 2011 december love labour of Glenn’s heart: to the Close See Page 62 Who is this man about town? See Page 57. PCA OU IBOA SPECIAL FOCUS not give them a try? picturequiz and the sudoku challenge. PrizesWhy of PICTURE BOARD & SUDOKU E word and perhaps you couldTest beyour inword power linewith our forlatest thecross- PRIZE CROSSWORD E word and perhaps you couldTest beyour inword power linewith our forlatest thecross- SPORTS QUIZ 50 prize. 50 prize. E 30 each are on offer for solving our See Page 58 See Page 61 See Page 60 NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

VISUAL ARTS Banking on art Frank’s Anglo-Irish ascendancy

Dublin artist, Frank O’Dea, generated a huge amount of interest last year with his mixed Artist, Frank O’Dea, with his painting,The Anglo Irish Bank Shareholder. media work, The Anglo Irish Bank Shareholder, for E600 at the Balla Bán Art which incorporated real Anglo share certifi- Gallery, in the Westbury Mall cates into the painting. off Dublin’s Grafton Street. Apart from turning worthless pieces of Working in oils from his paper into art, Frank also produced a windfall studio in Clontarf, Frank has for the Society of St Vincent de Paul which developed a unique style based received all the proceeds from the sale of the on bright colours and simplicity. work. Both the original painting has been sold – Among his regular themes along with all 35 limited edition signed prints. are fashion models, lovers, Frank, who has a particular interest in cafe/bar scenes and musicians banking, has produced another Anglo-themed along with abstract works. painting – entitled Anglo Irish Bank and the As well as Ireland, Frank’s Black Hole, which he describes as “Mixed Media works are also found in both (& Mixed Emotions)” which is currently on sale private and public collections in Japan, Switzerland, USA, Germany, Australia and the www boa org uk UK.

Also pictured are two of Frank’s more recent works, The Interval Act (left) and Anglo Irish Bank and the Black Hole (right).

Isn’t it time www boa e you joined the club? Belfast OPENING HOURS: The Club opens at 5:30pm from Mon- Bankers’ day-Friday. AVAILABLE FOR PARTIES: Club Available for parties on request (any day). There is no charge for parties and room booking. 31 Malone Road Please telephone 02890-382866 after 5.30pm or e-mail: bankers.club@ Belfast BT9 6RU ntlbusiness.com BOA THE F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM december 2011 december NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

CINEMATIX

A Gentleman’s Gentleman: Glenn Close (right) plays the title role in Rodrigo García’s new film, Albert Nobbs – the story of a woman who works as a butler in late nineteenth century Dublin, disguised as a man.

Up close and personal www boa org uk Best actor nomination could be on cards Albert Nobbs is a waiter and butler idiots if they think that person is a in an upmarket Dublin hotel in the man. It can take away from the late nineteenth century. With jobs story because you have to suspend so hard to come by at the time, he your dis belief to a huge degree.” is determined to carry out all his Apart from shouldering the duties meticulously to the point of key performing role in Albert obsession. Nobbs, Close is also the film’s www boa e His job is particularly important producer, major fundraiser and to him because he has a secret screenwriter (along with Irish Online DVD that neither the hotel’s guests or novelist, John Banville). employees must ever guess. The Close first got to grips with the Rentals grumpy little man is actually a character of Albert Nobbs thirty grumpy little woman! years ago in New York when she No more late fees! In this remarkable new film by played him/ her in the play, The Rodrigo García, Glenn Close takes Singular Life, by Simone Ben- No more contracts! on arguably her biggest challenge mussa, which was in turn based No catch! Close-Up: Glenn Close ¤ in a varied film career – to achieve speaking at the Toronto on a story by George Moore. A special price of 12.99 real credibility as a man. International Film Festival In this film adaptation, she is (usual price ¤15.99) As Close herself has com- in September. joined by a largely Irish supporting mented in a recent interview about cast which includes Jonathan Rhys is available to the film, “we’ve all seen movies Myers, Mia Wasikowska, Brendan all IBOA members. with women who are supposed to Gleeson, Brenda Fricker, Janet Check IBOA website be men and you think that the McTeer, Maria Doyle Kennedy

people in the movie must be and Bronagh Gallagher. for details. F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM december 2011 december PCA OU IBOA SPECIAL FOCUS NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

WIN SPORTSQUIZ E50

A prize of E30 will be awarded to the sender of the ﬁrst correct entry drawn from our post bag on January 13, 2012. All entries should be sent to Sports Quiz, Spectrum, IBOA –The Finance Union, IBOA House, Stephen Street Upper, Dublin 8.

1. In 1988 who became the first boxer to have won professional world championships in five different weight categories?

2. Which Irish golfer won the PGA championship and The Open in 2008? 18. Belfast’s City airport is named 3. Which piece of sporting equip- after which Irish sports person? ment is 3 inches in diameter and weighs 6 ounces? 11. Who or what is Arkle, from which the racehorse took its name?

12. What sport would you be watching at Flinders Park?

13. Which Irish golfer won the US Open Golf championship in June 19. Which was the first Asian coun- 2010? 4. In which city is the Maracana try to hold a F1 Grand Prix? stadium? 20. Who is the only man to captain 5. Who has played international England while playing Third Division

football and cricket for Scotland? football? www boa org uk 6. What sport is played by the Min- nesota Twins?

7. Which horse trained by John Oxx, won the 2009 Eclipse, the Epsom Derby, the 2,000 Guineas, the Irish Champion Stakes and the Prix de l’Arc de Triomphe? www boa e 8. Niall Quinn is chairman of which 14. In 1981, Susan Brown was the English Premier League club? first female competitor in which sporting event?

15. Which Irish jockey won the English Grand National at his George back soon fifteenth attempt? Our regular sports columnist, George 16. How many consecutive shots Hamilton, made the news himself recently when he suffered a major does it take to score a 147 break in coronary event which has kept him snooker? out of action for a few months. How- ever, we are pleased to report that 10. Roddy Doyle’s The Van is set 17. Who is the only man to have George is now well on the mend and against the background of which played in an English F. A. Cup final will be returning to duty with RTE and with Spectrum very soon.

sporting event? in the 1970s, 1980s and 1990s? F THE UN NANCE BOA ON

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BOA THE F NANCE UN ON www boa e www boa org uk SPECTRUM submitted by Karen AshThe ofwinning Ightham,entry for Kent.the prize crossword competition 19. Arrests;in the last21. Clegg;issue was 23. Dread;Union; 24. Star. 8. Kimberley; 13.Down: Casablanca; 14. Fabricate;Apertures; 16.26. NoDachshund; Use; 27. Eager; 14.18. 28.Finesse; Entered; Discarded. 15. Scandal; 17. Believe;Across: 19. Anarchy; 20. Inch; 22. Sterilised; 25.PREVIOUS SOLUTION drawn from our post bag after the closing date. A prize of WIN E 1.Blair; 2. Emotional; 3. Kingfisher; 4. Observe; 5. Nemesis; 6. 7.Thor; 1. Breakdown; 6. Truck; 9; 10. Symposium; 11. Rainforest; 12. Once; 50 10% discount on any mobile phone* or accessorymobile E 50 will be awarded to the first entry for IBOA members in the of Republic Ireland. december 2011 december *except the Apple i-Phone PRIZECROSSWORD 28. Collection of animals 27. Icy rain (5) 26. Asian country (5) 25. Lost at sea? (9) 22. Escapes (10) 20. Bone in forearm (4) 19. Place of learning (7) 17. Preoccupy (7) 15. Contempt (7) 14. Five-piece band (7) 12. Setback (4) 11. Unbearable sadness 10. Cycle (9)track 9. 6. Address Name 1. Across: prefer not to cut up the magazine.Dublin8.photocopyA ofthe grid isacceptable ifyou The Finance Union, IBOA House,Entries Stephen should Street be sent Upper, to Crossword, Employer E-mail Address rect entry drawn fromA prize our post of bag on ......

(9) (10) Belly-button (5) Christians (5) Scripture sacred to East (9) Divided city in Middle PCA OU IBOA SPECIAL FOCUS ...... E 50 will be given to the sender of the first cor- ...... 24. Assist (4) 23. Trap (5) 21. Female relation (5) 19. Leave behind (7) 18. Scornful wit (7) 16. Great leader from 14. Complaining constantly 13. Increasing in intensity 8. 7. 6. 5. 4. 3. 2. 1. Down: Branch/Dept

Wait (4) Jinxed resident of Macedonia (9) (9) (10) Unforeseen crisis (9) Former UK premier (5) Kind of duck (7) Young hare (7) Greeting (10) Uncovering (9) whales? (5) January 13, 2012 Spectrum, Union No ...... IBOA – . NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

WIN PICTUREBOARD E30

2 3 4

1 5 6 7 Use the first letter of the surnames of each of the celebrities pictured to spell out the surname of an Irish politician. Answers on a post card, please, with your name, address and e-mail address and IBOA membership number to Picture Board, Spectrum, IBOA House, Stephen Street Upper, Dublin 8. A prize of E30 will be awarded to the sender of the first correct entry drawn from our post bag on January 13, 2012. The winner of the last Picture Board quiz was John Hanratty of Dundalk, Co. Louth. The answer was McIlroy. www boa org uk WIN SUDOKUCHALLENGE E30 awarded to the sender of the first 1 2 7 6 correct entry drawn from our post bag on January 13, 2012. All entries should be sent to Sudoku,Spectrum, IBOA – The Finance Union, IBOA House, Stephen Street 2 1 8 www boa e Upper, Dublin 8. You can submit your entry on a photo copy of the grid 3 6 7 4 – if you would prefer not to cut up the magazine. The winning entry for the Sudoku Challenge in the last issue 6 8 7 2 was submitted by Ria Mathews of College Green, Dublin. 6 7 2 9 Name...... Union No: ......

Address ...... 8 7 3 ......

E-mail Address ...... 1 3 5

Employer...... Branch/Dept...... 1 9 7 F THE UN NANCE BOA ON

december 2011 SPECTRUM 61 HR USNEWSREVIEW SHORT CUTS 62

BOA THE F NANCE UN ON www boa e www boa org uk Every little helps! furniture on offer. rangeof second-hand equipmentoffice and with sortsraisetomuch a needed funds– TheBelarus Central Bank held fire-salea of Not family silver! SPECTRUM of version female Margaret Thatcher. a was Royle Family) Caroline creator of Ahern, observation astute the by Mrs. mind Merton to brought (aka Edwina on our television screens obvious shortcomingsinlast year’s series, asdespite aher dancer.combe, enjoyed modest successerstwhile colleague, Ann Widdi-Major’sone-time lover after her haveshockcomeaJohnasto ComeDancing Currie, from this season’sConservative Minister, Edwina Theearly demise offormer UK favour fails Bid to curry raisingasum equal to £10,000 or upfor auction inthe hope lastof month – suitcases,thirty paper bags(!), asugar bowl and a previously used dictaphone were – put Around 500 lots including – ten safes, two eetees te ih of sight Nevertheless, the Edwina Currie: of Widdicombe’s comedic value. ULTRA that Edwina Currie onBBC 1,must strictly no repeat VIOLET Strictly The december 2011 december ¤ major contribution to acquisitionthe collapse ofof ABNthe the proposal document forAmrohistoric 2007bank. which – made equally such the is a absent markedlyincluded, offerdocument tobuyNatWest in1999 is whattoleave out. So although the historic full of difficult choices about whatthrough to 100 putobjects. in and origins in the 17th centurywhichtries tototell thebank’sthe story presentfrom its day RBS websitecontains aninteresting feature been giving some attention Goodto toits see history. that Royal TheBank of Scotland has compared to the bank-busting merger with ABN Amro. Fred’s foolish foibles! Airbrushed from history: TheJack Nicklaus fiver: Ofcourse, projects like these are always 11,500. Michel Platini Inhindsight probably one of Sir Fred Goodwin’s better ideas especiallyfor RBS – PCA OU IBOA SPECIAL FOCUS Sriig n Lann fo Tms ofTurmoil.” Times from Learning and “Surviving becausethe history includes nationalisationa section entitled of the frombank their in 2008list not – ofleast “Turning Points” is the honourvirtual of the American in golf note commissioning special bank bylegend. a redundant,he revealed his soft spot punctionfor inmaking golf thousands ofRBS staff fiver.While Fred “the Shred” had thelittlecurious thebank’s JackNicklauscom- CEO– ratherbizarre tenure of Sir Fred Goodwin as have been in the group of debt!ment in Poland and the forUkraine. the SoEuropean we could football’s showpiece tourna-Troika Portugal, – Ireland, Italyare andcurrently Greece.engaging with the IMF/ECB/EU the four ‘PIIG’ countries whoseEuro governments 2012 finals couldhad have a littlebrought moretogether imagination,If only Michel Platini the and draw the blazers for inthe UEFA Group of debt! Butperhaps themost glaring omission Alsomissing isanother example ofthe As luck would have it, all four have qualified with STEPHEN MALONE STEPHEN with NEWS WORK AGENDA LIFE & STYLE ARTS & LEISURE

www boa org uk www boa e BOA THE F THE UN NANCE BOA ON

december 2011 SPECTRUM 63 Almeria Golf Special Venue: El Toyo, Almeria, South-East Spain Hotel: Choose from the following 4-star hotels – all situated beside the beach and golf course – Hotel CaboGata Plaza Suites (www.suitesplaza.com), Hotel Garden Cabo de Gata (www.gardenhotels.com) or Hotel Barceló Cabo de Gata (www.barcelo.com) Golf Courses: Alborán (www.alborangolf.com) and La Envia (www.laenviagolf.com)

What’s included E Option A: 4 nights and 3 rounds at Alborán 185 pps!

Option B: 7 nights and 4 rounds at Alborán E295 pps!

Option C: 7 nights and 3 rounds at Alborán + 2 rounds at La Envia E320 pps! (ask for transfer prices to La Envia) Buffet breakfast daily and evening dinner included. BOOK NOW! Offer valid until June 15, 2012 – Prices for summer 2012 on request E-mail any of the following to book the hotel and golf: Jose R. Espinosa – [email protected] (Tel/Fax: 00-34-950208583 Pace Venegas – [email protected] Dermot Fagan – [email protected] PLEASE QUOTE ALBORAN GOLF DEAL: As soon as we confirm your hotel and golf reservation you can book your flights: check Aer Lingus/Ryanair for regular flights to Murcia (2 hours from Alborán or to Malaga (3 hours from Alborán).