JULY 2012

Marilyn 50 years after her death , the legend endures See Pages 49-50

Foul-ups, scandals and over-charging – lessons still to be learned! HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 2

IBOA THE FINANCE UNION www. SPECTRUM Spectrum is published by TheIBOA Finance – Union, [email protected] www.iboa.ie www.iboa.org.uk IBOA House, Stephen Street Upper, 8 Communications Manager: Séamas Sheils Advertising enquiries to Anna O’Doherty and 29, Malone Road, . BT9 6RU. wrapped for posting in oxy-degradable poly thene Honorary Secretary: Tommy Kennedy or Louise O’Donnell in IBOA House. Spectrum is printed on recycled paper and General Secretary: Larry Broderick at W & G Baird, Antrim, Northern . Telephone: 00353-1-4755908 and 0044-28-90200130 • • • • NEWS REVIEW SECTIONS COLOUR shortsdirectjob working for Paddy Power CormacMcCarthy, has taken anew FormerUlster Bank Chief Executive, NEW NICHE Mc Ulster Bank july 2012 july Mis-selling scandal in Republic ‘Appy Days Diamond in the Rough RBS IT meltdown paralyses CARTHY’S See Pages 8-15 See Page 4 • • • • • WORK AGENDA • • • • • SPECIAL FOCUS board. make their presence felt onBank the ofBank’s Ireland’s international investors BOI BOARD NEW FACESON NIB branch closure concerns Ulster says sorry AIB’s brave new world Legacy from Dark Ages Banking on future at BOI Health and safety at work Busting jargon Blowing the whistle Crime seldom pays Going for gold See Pages 40-47 See Pages 16-23 See Page 5 to its customers. afull range of retail banking services Marksand Spencer prepares to offer LAUNCH BANK M&S SETTO • • • LIFE &STYLE • • • • • IBOA NEWS Republic rises an empty icon Level of personal debt in the Olympic Torch-ure! Marilyn Monroe more than– Robert Thompson bows out Bank Secretaries Conference Hanna and Barrett return Duffy plans smaller AIB Boss’s bogus bonus bogey See Pages 48-53 See Pages 24-31 See Page 6 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Top bankers pass test on fitness and probity tells 2008 veterans, Murphy CO-OP BIDS FOR and Boucher, that they can continue LLOYDS ASSETS

The Co-operative Bank is favoured to enior executives of Irish acquire 632 branches being sold off Sbanks who were directors by . when the State guarantee was See Page 7 introduced have been given a clean bill of health by the Republic’s Central Bank. The finding, which covers Chief Executive, Richie Boucher, and Irish Life and Permanent Chief, Kevin Murphy, follows a protracted investigation into fitness and probity by the Central Bank. In a statement issued last month, the Central Bank said that as it conducted its review ALL CLEAR: Bank of Irish banks during the night of over the last twelve months, Ireland Chief Executive, the guarantee. many of the long standing Richie Boucher (left) and “In some cases this decision directors of the institutions Irish Life and Permanent was taken internally within the covered by the bank guarantee Chief Executive, Kevin Central Bank and in others the had resigned. Central Bank sought an external Murphy (right) (Photos: www.iboa.org.uk It said it had no reason to opinion on the material avail- IBOA EXTRA Photocall-Ireland). • Building the Union suspect the fitness and probity able to the Central Bank. No • Suite deal in Belfast of any directors currently in further actions will be taken by place who were on boards of • Back to the future the Central Bank at this time.” • Diversity at work • Lionel Richie plays country Vhi Healthcare is the only specialist health insurer in Ireland with See Pages 32-39 over 50 years’ experience. We have plans for every pocket and every lifestage. www.iboa.ie As well as plans covering health insurance, we also have travel and dental insurance...as well as minor injury SwiftCare Clinics in Cork and Dublin. Give us a call at 1850 211 558 quoting reference no. 5429/25 and your IBOA membership number to discuss your options...we can help you with your choice with no fuss...just facts! ARTS & LEISURE • Stone Crazy Vhi Healthcare – • Cinematix: Brave • Game Time when you need us, • Prize Quizzes • Ultra Violet we're there!

See Pages 54-63 UNION FINANCE THE IBOA

july 2012 SPECTRUM 3 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 4

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk SPECTRUM ILO was founded in 1919. Director-General the since as serve unionist to trade federation,willthebe first nationalTrade Union Con- Inter- strong 175-million the of SecretaryGeneral run by governments United only alone. not the is thatNations agency is ILO the standards,workplace pursueagreed international based body since 1998. who has diplomat headed the Chilean Geneva-former succeedsJuan Somavia, the October he when(ILO) in national Labour OrganisationDirector-General of theRyder, Inter-will become the next Britishtrade unionist, Guy top job take ILO’s Ryder to Ryder, who was the first to remit global a With New ILO chief: Guy Ryder july 2012 july Hornby,as Chief Executive Andy boss, HBOS former recent appointmentthe of mirrors firm bookmaking Power last August. executivedirector atPaddy non- a appointed asbeen Paddy Power. officer of bookmaking firm, appointed as chief financialCormac McCarthy, has been U Paddy Power appoints new finance officer McCarthy finds niche

Super-hero?: Hisappointment tothe McCarthy had previously Chief Executive Officer, se Bn’ former Bank’s lster Cormac McCarthy at the Paddy Power AGM in May. (Photo: Laura Hutton/Photocall Ireland) now secured gainful employ- at last found their niche. casino capitalism may have unsuccessful practitionersobservation of that promptingthesethe Coral’sratherof–

AlthoughMcCarthy has NOT You could it up! make has set aside around during McCarthy’s finances stewardship. Bank’s deterioration the the of in largelyin2010 as– a result numberwholefttheBank similara oftop on of 2013– end the by jobs their lose may who staff Bank Ulster950thefor betsafe the future is far from beingment with a the bookmakers, loan book. coverthe losses on its Irish

Ulster Bank’s parent, RBS, E 9bn to IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Metro on the move

Wilbur Ross, Jr. Archie Kane Prem Watsa New kid on the British banking block, Metro Bank, plans to expand its business with a further seven branches New faces for Bank in South East England – to bring its total workforce to 700. of Ireland board Metro became the first retail challenger to the established banks in 100 epresentatives of two Prem Watsa is Chairman from Lloyds Banking Group years when it opened its first Rof the key players in and CEO of Toronto-based plc, where he served as branch in in 2010, the investment consortium Fairfax Financial Holdings Group Executive Director – Though still very much E which acquired a 1.1bn Limited, a publicly traded Insurance and Scotland, a minor player, Metro Bank’s stake in Bank of Ireland last holding until May 2011. “unique selling point” is summer have now joined company which, through Before that, he held a extended opening – with the Bank’s board as non- its subsidiaries, is engaged number of senior manage- service available on week- executive directors. in property and casualty ment positions with Lloyds days from 8am to 8pm and Wilbur Ross Junior is insurance and re-insurance Banking Group and with at the weekends for six hours Chairman of the US private and investment management. TSB Bank plc. a day. equity firm, Invesco Private Bank of Ireland has also He is a former member Metro Bank’s expansion

Capital, Inc. He also serves appointed a new Governor of the Scottish Government’s is a further sign of increasing www.iboa.org.uk as Chairman and CEO of (Chairman) to succeed Pat Financial Services Advisory competition in the retail W. L. Ross & Co, which has Molloy who retired from Board, the UK Takeover banking sector – with both a lengthy track record in the post last month. The Panel and the UK Treasury’s Marks & Spencer and Tesco restructuring “financially new appointee is Archie Financial Services Global planning to extend the range of financial services on offer distressed” companies. Kane who recently retired Competitiveness Group. to their customers. www.iboa.ie

Hyho.ie provides a range Hyho.ie will donate between of special deals for IBOA 10% and 20% of its agency members. commission to a charity, Check the IBOA web- school, club or community sites 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 membership number to log our dedicated call centre, on! IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 5 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 6

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk the institution. rather than requiring the losses State take to shareholders bailholders and – out bond as such - – bankcreditors the of proppedup in part by making unsecured of stabilityfinancial the markets, tothe institution threat serious will a be in it will simply be allowed to close.national economy difficulties, into gets inter- or national the to risksystemic no poses that bank a banking, ifpean break the “too big to fail” culture in Euro- a repeat of the current bankingproposed crisis. by the EU Commission to avoid SPECTRUM says EU allowed to fail – Banks must be

National Sea Life Centre, Bray Seafront, Bray, However, if its failure is likely to result to plans Commission’s the Under memberStates adopt new measures ns il e loe t fi i EU if fail allowed to be will anks 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 E 3 off full admission price www.sealife.ie For individuals: Supersaver deal of july 2012 july E 35) E 20 structure will be provided bymonth HSBC. at the group's flagship store at London’s Marble Arch. Banking infra- B Bank“will be built on M&S values; Executive,MarcBolland, M&S the eventually mortgages, too. level by offering new current a toM&S this take willBank accounts and ingcredit cards and insurance. The arange of financial services, includ- joint venture with existing Marks’ providing HSBC Money, – M&S use as well as to UK-based call centres.toonline banking around the clock, company statement. sevendaysweek,” a according toa customers enabling“to thus bank while – they banks street high shop, beopen twice as long as traditional hours,the M&S Bank branches will and mortgages via link with HSBC Retailer to offer current accounts banking services M&S to offer full

According to the company’s Chief Over 3 million customers already Customerswill also have By mirroring usual store opening branches in its stores within two years, with the first branch opening this ritain’s largest clothing retailer, Marks & Spencer, plans to open 50 bank sion in services on hold. opted to put plans for whichrecentlya services majorprovider – expan- largestsupermarket-based financial alsosteal a march on Tesco, highBritain’s street banks, the M&S move will foreign exchange facility. asself-service banking points and a include to private planned is meeting branch Bank areasM&S as well head office in Chester. branch network and aroundcustomer-facingin400 its rolesin100 at its staffby the includingend of 2013 – from the competition.” exceptional service that sets proposition theus delivering andapart the puttingthe customer at the heart of

While challenging the traditional Staffed by a specialist team, each M&S Bank expects to employ 500 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Sky blue thinker?: Gary Hoffman, NBNK Chief Executive Bustin’ Hoffman

Dark horses: Co-op outbids NBNK for 632 branches earmarked for disposal by Lloyds (Photo: IBOA). Probably one of Coventry City Football Club’s best paid supporters is Gary Hoffman, Lloyds nods to Co-op Chief Executive of invest- ment company, which failed in its latest attempt to enter Britain’s retail banking sector NBNK’s bid for 632 branches rejected by buying 632 branches from Lloyds Banking Group. loyds Banking Group a 7% share of the current Though widely expected, Hoffman was paid has agreed to press ahead account market. the Lloyds Banking decision £910,300 last year – even withL the sale of 632 branches The Financial Services has come as a major dis- though NBNK lost £23m www.iboa.org.uk to the Co-operative Bank Authority and the British appointment to the private on two previous bids to after it rejected a rival offer Treasury are believed to be equity company, NBNK, secure a foothold on the from the private equity concerned that the sale of which has been desperate high street. company, NBNK. the Verde group should be to gain a foothold in retail Lloyds has to sell off the accompanied by significant banking in Britain. You could 632 branches – known as funding reserves to stay NBNK is fronted by Lord the Verde group – in order to within regulatory rules. Levene, the former chair- NOT make comply with EU conditions Lloyds has said that the man of the insurance under- it up! for receiving State aid. Verde business would have writers, Lloyd’s of London, Once the sale of the Verde equity capital of £1.5bn to and run by the former Chief group is completed, the Co- protect customers in the event Executive of , www.iboa.ie operative Bank will acquire of a run on the bank. Gary Hoffman. Hoffman’s annual salary of just under £1m follows a £1.8m signing-on fee to smooth his transfer from Isn’t it time you Northern Rock, where he also served as CEO. joined the club? Reports that he also Belfast received £0.5 million from OPENING HOURS: his former employer while The Club opens at 5:30pm from Monday-Friday. on six months’ “gardening Bankers’ leave” led some commen- AVAILABLE FOR PARTIES: tators to question if any Club Available for parties on request (any day). information Hoffman might There is no charge for parties and room booking. have about the bailed out 31 Malone Road Please phone 02890-382866 after 5.30pm or failed bank could actually Belfast BT9 6RU be quite so commercially e-mail: [email protected] sensitive. IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 7 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 8

IBOA THE FINANCE UNION www.iboa.ie SPECTRUM lesson since. haven’t had a baby and I walk as a I learned to Marilyn Monroe

mis-sold payment protection financial institutionsinsurance of number Irish have The a thatCentral report Bank’s to customers is a further hammer blow. MIS-SELLING SCANDAL newsfailings of one individual. ButBritish banking’s problems are about the culture ratherthan – the preceived directDIAMOND IN THE ROUGH july 2012 july A specialA 10%discount isavailable for forIBOA more information members– check out There are releases. next title from your list. It Asis soon far as cheaper you are finishedthan renting you return fromYousimply inthe the signhigh FREEPOSTup andstreet select envelope withthe movies all provided theyou want latest andto see we newand sendwe post Screenclickthe them to your home. is Ireland's leading online DVD and Blu-ray rental service. www.iboa.ie/my/services/ or www.iboa.org.uk/my/services/ no late fees and over 15,000 titles to choose from. See Page 11 See Page 6 measured approach? RBS ITdebacle now lead tomorea momentum in recent years. seeminglygathering unstoppable a So will the based around – banking the mobile internet has of been – growth The APPY DAYS ment probe into insider trading. followingager – a major US Govern- leaking secrets to a hedge fund man-of conspiracy and securities fraud Rajatfor K. Gupta has been found guilty and ex-Goldman SachsRetired board headmember, of consultants, McKinsey, GUPTA GUILTY See Page 13 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

RBS IT meltdown www.iboa.org.uk paralyses Ulster

ith around half of Ulster Bank’s While much of the media focus of the Bank’s frontline staff –which has

1.8 million customers believed on the hardships caused by Ulster received an overwhelmingly positive www.iboa.ie toW have been affected by the disrup- Bank’s difficulties has understandably response from customers who may tion to the Bank’s IT facilities – hosted highlighted the impact on individual otherwise have been less than impressed by RBS – and with many thousands customers unable to access funds from with the overall crisis response from more customers of other institutions their personal accounts, there has also the Bank’s senior management. also drawn into the chaos, the impact been huge damage to businesses unable While the Chief Executive, Jim of this unprecedented event is likely to verify whether payments due have Brown, eventually came forward to to reverberate on Ulster Bank and indeed been received or even, them- “unreservedly apologise for the dis- throughout Irish banking for many selves, unable to meet payment dead- ruption that the issue has caused our months to come. lines. customers and customers of other As British economic commentator, Indeed so pervasive has been the banks,” many felt that the timing of the Will Hutton, noted recently: “there is impact of the crisis that a final tally of statement – almost a week into the no more serious business failure for the full financial cost may take months. crisis – indicating a lack of under- a bank, bringing in its wake, as it And of course, it remains to be seen standing or respect for customers. does, vast economic and social con - what effect the affair will have on the Communications difficulties were sequences. It’s like a water company Bank’s ability to retain customers. evident throughout the critical early unable to supply water or a power Perhaps the one saving grace in days of the crisis. ⁄ company gas and electricity.” this regard has been the commitment UNION FINANCE THE IBOA

july 2012 SPECTRUM 9 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 10

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk sumerProtection, Bernard Sheridan, CentralBank whose Director of Con- ofthe key demands of the Republic’s prehensive “restitution” plan was one ing with customers “exasperating.”ing,” and its approach to planningcommunicat- was “self-evidently…appall-recently that Ulster Bank’stold the contingency Oireachtas Finance Committee could RBS– banks exceed NatWest, – Ulstertotal compensation and Royalcosts for the three evidence to the bank. details of any losses and present this as SPECTRUM the delay in commentingcastigated by publiclypublic representatives theon Ulsterthe Bankfor crisis.notescape Asidecriticism from for beingits response to whether Ulster Bank customersAnyone affectedor meltdownthenotby – • • • • • adversely affected. customers’credit ratings willbenot credit reference contactedagencies also has pocket. It of out to ensure that of other banks, will firmedbe left that permanentlyno customer, orscheme customersis astart. The Bank has con- is likely to take some time. ofrebuilding trust with its customers horsehad long since bolted. The task on top of the situation, the manyreputational of eyescommentators, the no in ‘plan was,B.’ There problem, completely was inadequate. fall-out thehandle from original the Bankmanagement mayhavehadto that, whatever contingencythe controlplan Ulsterof Ulster Bank, remoteit wasRBS IT systems clearwere outside among the public that accidents in the lost credibility. definitiveforecasts, the message had was finally in a withposition such to frequencyprovidefor resolvingmore that the issuewhen came theand went Bank According to UK banking experts, the Customers are to be compensated for:

havebeen advised to– keep written However, the Central Bank, itself did

h ipeetto o a com- a implementation of The credit cards Cash-advance fees and interest on payments Interestwronglychargedlate on mortgages, loans and credit cardsLate-paymentfees and interest on Overdraft interest drawn and exceeding aOverdraft credit feeslimit) (both for being over- comprehensive compensationA By the time Ulster Bank finally got While there was some appreciation The Bank’s self-imposed deadlines july 2012 july € 130m. might also reflect on the importance of and overhaul their ITother infrastructure. institutions of the need to maintain job cuts across the Branch network.be worse for trying toprogramme. implement major But theagement timingto re-assess its couldjob reduction man business leads - rebuild the hardly to to remain when thealsobe vital dustin persuading settles,”customers played he a said.key role in the crisis: they will human beings rather than machines.enabling customers interact with to shouldleastat serve warninga as to said IBOA’s Larry Broderick.ingrush towards automated banking,”vide pause for thought“The in the Ulster accelerat- Bank crisis should also pro- sector. (Photo: Laura Hutton/PhotocallReform Ireland).to discuss the safeguardstheir in wayplace into to Leinster mitigate House technical to attendBanking thedifficulties OireachtasSupervision, Committeein the IrishShane on Finance, financialO'NeillRegulators: Public andservices Expenditure Director andof Consumer Protection, Bernard Sheridan, pictured on financial institutions. audititsuseandeffectiveness allin to able should Central be Bank the such a crucial role inwith information financialtechnology playingservices, provided by the relying,institutionsing – instead, themselves. on thethe IT systemsevaluations in uselack across the Irish expertise bank- tocrisis, assessthe regulator the fitnesswas also shown of to “More thoughtful banking leaders It remains to be seen how the need have Bank Ulster of staff “The “Thefrailties of the RBS ITsystem ulc representatives Public that, said Lessons of the Crisis Stafffrom the Central Bank (left to right) Head of Payments Paul Molumby, Head of the customer did not want. sell“products” towhich they pressure already underknew put longer they did not need, while staffpressure werebuytofinancial no “products” were addressed. was dropped and customers’when the real high pressureneeds bank salesofficials approachimproved immeasurably the relationshipsanunprecedented between crisis, customersthe weeksquality is that, andof even in the face of such the light will of the Ulster banking Bank reconsidercrisis. retail the scope of their to plans in approach withambitions for a institutionsmore automated other inmanagements customers many andhope staff not. of members Many obsession with sales resume with it? service”resumes, will the Bank’s blind down to achieve it. eventhough it has taken a near melt- become a case of “back to thehas future,”Itday.the orderbecomeof the their presumed needs has – oncethe againcustomers’ addressing actual customer – service Realneeds rather than

Anotherlesson to emerge in recent It also remains to be seen whether Butforhow long? When “normal Customers were no longer put under Real Service to Customers S IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Exit strategy: ’ recently signed Chief Executive Officer, Bob Diamond (left), with his predecessor, John Varley (behind) and soon-to-depart Chairman, Marcus Agius (right) pictured before Diamond took up his post in January 2011 (Photo: Dylan Martinez).

Diamond in the rough www.iboa.org.uk …but problems go far wider than one man

s if triggering a major At a hearing in the US their own pockets from trading their swords in the wake of the Aeconomic crisis which has Congress last month bonuses. scandal, Diamond’s initial re- sent the British economy into a into how JP Morgan Barclays was fined a total of fusal to waive a pay-off, said to double-dip recession was not lost up to $9bn in $450m (£290m) by the British worth between £20m and £30m, enough, British banking has derivatives trading in Financial Services Authority and only added to public outrage. www.iboa.ie scored more spectacular own its US counterpart, the Com- Agius, meanwhile, was given the UK before the goals this week. modities Futures Trading Com- a reprieve in order to supervise the The computer turmoil at LIBOR manipulation mission – with further sanctions search for Diamond’s successor. RBS – which also wrought havoc scandal broke, Con- likely against other banks. No one seems to have queried for customers in its NatWest gresswoman, Carolyn The regulators found that how someone, who was deemed and Ulster Bank subsidiaries – Maloney, remarked: Barclays traders had routinely ⁄ rapidly paled into insignificance “It seems to be that manipulated the LIBOR in the (except in Ireland, for obvious every big trading hope of increasing their trading Interest rate fix reasons) when the shocking disaster happens in profits and their bonuses. inquiry in Canada revelation broke that a small London.” At one point, Barclays was number of individuals in many lying “on an almost daily basis” An investigation into interest rate leading international banks – in the information it supplied manipulation in Canada has alleged with Barclays most prominent – to the market, according to a US that traders working for British banks, had been trying to manipulate investigator. RBS and HSBC, as well as for Deutsche the London Inter Bank Offered Barclays Chief Executive, Bank, J. P. Morgan, Citibank and Icap Rate (LIBOR) in order to either Bob Diamond, and Chairman, brokers conspired to fix rates for exaggerate the financial health of Marcus Agius, eventually opted Japanese yen trades for personal gain. All dispute the claims.

their own institution or to line to fall –or were they pushed? –on UNION FINANCE THE IBOA

july 2012 SPECTRUM 11 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 12

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk h fnnil rs i 2008 in financial crashthe sector in these islands. damage to the financialcauseto untold reputational servicesinformed customersinappropriate con– products tinuesto ill- whichencourages the sale of bankingwithin sector the – to compensate customers. had to set aside £5.5bninstitutions financial ( by mis-soldwhich been subsequently policiesbought in Britain had payment protection insurance vealed that re- wasthe it after yearvast a camemajority of SPECTRUM viability at risk. stantial penalties putting – their thesebusinesses incurred sub- rates fell. When thispenalties came toto be pass,charged these productsof for if provided interest a rise in interest rates. protect small businesses againstmis-soldhadtheyproducts to afterfinding thatandHSBC – Barclays,RBS,Lloyds banks– reachedsettlementa with four Authority announced that breaking,it had the Financial Services of its next leader. a pivotal role in the neverthelessappointment be institution, majorpermitted should a in to play to be unfit to remain in a key role

The excessive sales culture

Who could imagine that banking hooligans would bring football into disrepute? hl mn hpd that hoped many While hs i-eln scandal mis-sellingThis h sal rn o many on print small The theLIBORAsscandal was E 6.6bn) july 2012 july in the first place. practices that led to the crisis same destructive the of more only policies – and B’‘Plan ing.Itseems that there isno appearto have learned noth- Ireland Britain and both in of this culture, bankingwould bosses lead to a re-evaluation ful” methods to make money. lacerated for resortingwrong to “deceit-with an industry somethingthat very gone had which he culture earlier this angrymonth,attack on sayingBritish banking England, Mervyn King, madeUK, an the Governor of the Bankonrecent ofdevelopments inthe

it did not necessarily succeed. mortgagesoffered to people with poor credit ratings, certain LIBORinterestanis ratethat basedis what on banks are So what is the LIBOR? regulatorssaid, while Barclays attempted to manipulate theirofbank’s actions.it, LIBORchanges everydayandthe by consumers is proving they haveproduct suffered whosea loss asprice a result was linked to LIBOR. Thecredit difficulty cards, personal faced loans and loans to business. productsdepends theonLIBOR. These include sub-prime Englandbase rates, the rate borrowers pay onmany other also happens to be the chairmanBritish of Bankers’Barclays. Association chaired bythe Marcus London Agius, Inter Bankwho Offered Rate and is overseen chargedby the when they borrow from other banks. Itstands for

Inatrenchant commentary Consumers could have been affected if they had a financial While the price of ordinary mortgages is based on Bank of employees in Britain. timesthe average salary paid many worthto alone are bonuseswhich paid are who tives excessive as remuneration wellfor senior execu- as rates” importantmosttheof interest “deceitfulmanipulation ofone customers,” and oftreatment of key issues including “shoddy industry," he said. real change in the culture of theneed to put it right…We need we a industry and banking UK thing went very wrong with the one now understands that some- a broadside at British banking culture.Governor,Mervyn King, has launched King’scounsel:

Kinghighlighted numbera “WhathopeI isthat every- Bankof England, S bottle of Bollinger. opening a I’m and work Comeoveronedayafter Dude.I owe day:you big time! that later trader External trader to toBarclays ‘have a chat.’ Barclays trader: I'm a dead man. comesitIfunchangedin a lower Libor submission: a Barclays to trader, trader askingExternal for low. tell him to keep it, to put Managerit trader:to like, dude, you're I'm be. should killing itwhere us. …He's like, I think this is highestLibor of anybody ter: plainingabout asubmit- Trader to manager, com- and with the regulators. market the reputation in are at risk of damaging our dishonest by beingdefinition therefore are and We manager: to Submitter that we're not in the shit. messagethesend…to lower than it wasit putto askedhas] me yesterday Submitter: in? hehehe. going to put my low fixings Trader: Monday. FYI, I will be in noonish on Submitter: this not [to] be inSubmitter: any book! written in golden letters. business, your this about book name awrite will be Trader: to be influenced by traders.submitters are notBanking supposedAssociation. The interestrates tothe British on informationaccurate send to was jobwhose traders and “submitters” – bank’s between thesent detailsvarious messages The FSA report on Barclays ROUGH TRADE [Heis putting in] the When I retire and Noonish?Who’s Hi all, just as an Iwould prefer A manager [A promises Just IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Appy days Irish banks include smartphone option in online banking services

rish banks are increasingly embracing the growing potential of smartphone technology to enhance their capacity to offer online Iservices to their high-tech customers. While they have yet to deploy the full power of the device to function as an alternative to credit or debit cards in routine retail settings, the range of services on offer through smart- phones is gradually expanding. The changing needs and with around 20% of sales now Following the recent launch preferences of customers, along made through the internet or of the Bank of Ireland app in side technological innovation, contact centres. May, all of the major retail banks has led to increased popularity Customer attitudes to mobile in Ireland now provide mobile for mobile banking technology. banking have also become access to their online banking A report by international IT more positive due to increased facilities on both Apple and consultants, Capgemini, in 2011 familiarity with smartphone Android platforms. noted that “direct channels” technology, advancements in First into the field in Ireland (online, phone, mobile) are functionalities and enhanced was Ulster Bank which, since its expected to hold the highest security features. launch in September 2010, now share of global banking trans- It is expected that by 2013, claims to have around 100,000 actions volume by 2012. more internet browsing will be active users for its apps which www.iboa.org.uk A similar European study done on mobile devices than on IBOA trials are also available on the Black- also shows that around one third desktops. berry platform. of active current account holders With an estimated 740,000 tablet app When the Bank’s IT system is working, the Ulster Bank app regularly bank online while 17% smartphone users in Ireland The IBOA is exploring provides ‘mini-statements’ for use telephone banking. today – of whom 63% are under the possibility of creating the last six transactions for all The same report notes that 35 years of age – the potential a free app which could accounts managed through its 80% of all money transfers are uptake for mobile banking is provide members with Anytime Internet Banking facil- currently conducted through already significant and likely to exclusive access to a ity including current accounts, online and telephone banking become more so. range of IBOA services. savings accounts, credit cards Delegates at the and loans. www.iboa.ie cent Bank District

cretaries’ Conference It also allows transfers of funds between accounts as well CHAPTERS BOOKSTORE Galway saw a work- Parnell Street Dublin 1 g demonstration of a as payments to designated friends pectrum’ app –show- and family members – along ghow pages from the with credit card and utility bills. last issue of Spectrum The Ulster Bank app also might be transformed offers weekly balance updates as into multi-media pre- well as special alerts to warn if sentations on an i-Pad the customer exceeds self- 10% imposed balance limits. tablet computer. DISCOUNT “New advances in Both National Irish Bank and for IBOA members technology are creating Northern Bank launched their apps exciting possibilities to in September 2011. Connected link up with members,” to their eBanking services, the apps offer users a quick overview Show your IBOA membership said the Union’s Com- munications Manager, of all their accounts as well as card at the pay point Séamas Sheils. their transaction history for up

⁄ UNION FINANCE THE IBOA

july 2012 SPECTRUM 13 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 14

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk with its customers.” its most crucial relationshipvaluable – asset in maintaining line staff constitutefallible; a andbank’s unpredictablysecondly istechnology most that front- Broderick,Larry “firstly that timely lessons,” IBOA’s says provided important two and Bank and its parent, RBS, have minimise human interaction. bankingwhich would seek to as the basis for a new modelhas ofbeen seen in some technology newliferationquarters of e-banking.However, the pro- development of the assisted phone apps has undoubtedly SPECTRUM calculator. also include a currencyHead Offices.exchange Most banking Branches andinformation for apps ATM as – well as general contactto locate your facilities nearest offer branch all or TheyStore. Apple the App fromStore charge or Google of free Play able Banking 365 profile. registeredpayees theonuser’s billsand transfer money tothe statement. The user can ofalsoall transactions pay since the last all account balances and a history online banking withcustomers Banking currently 365. over registered 65,000 offor downloadedthe been by has app Bank’s 500,000 launch in May, the Bank of Irelandregister for top-up by or onlinetext. phone mobile their ingorder online andtotop up set up, amend or cancel a stand- tomer’s own AIB accounts.accounts theandcus-between payments, transfers bill allows to also months. six It third party recent account transactions over balances and view the 100 most Banking services. mostthepopular InternetAIB 2011. The app providesits accessapp was to launched in Octoberdownloads have taken place sincemoney and pay bills. also enable customers apps thirteen The months. toto transfer The app allows users to view In just a few months, since its

eet vns t Ulster at events Recent smart- popularityThe of Allofthese apps areavail- The app also allows users to account check can Users AccordingAIB,200,000to july 2012 july S Small Big AdsChoice – Adverts placed by IBOA members www.iboa.org.uk/my/services/smallads.html www.iboa.ie/my/services/smallads.html or Holiday Apartments You’ll need your IBOA membership number to access these pages. Check out the IBOA websites: for IBOAmembers to Rent IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Mis-selling scandal is latest costly own goal PPI abuse reflects obsession with malign sales culture

he Central Bank in the Payment protection the payment protection insur- “We will carefully assess www.ibo g TRepublic has asked seven insurance is intended ance policies were sold to the their plans and put in place financial institutions to con- to cover repayments self-employed, those close to monitoring arrangements to duct a comprehensive review on a loan or other form retirement, and those on con- ensure that all firms take a fair of all their sales of payment of credit for a specified tract — even though most of and consistent approach to protection insurance (PPI) since them were ineligible to be their review. amount of time if the August 2007. insured under such policies. The Central Bank’s main This could result in exten- policy-holder suffers Where breaches are found concerns arising from the sive repayments of premiums an accident, illness or any affected consumers must inspection are: to customers worth millions of redundancy. In some be “appropriately restituted.” • institutions not gathering euro if the PPI policies are cases, life cover may In Britain, where it was sufficient information to

found to have been mis-sold. also be included. found that the vast majority of enable them to determine www.iboa.ie Two banks, AIB and Bank Many institutions payment protection insurance whether the product sold of Ireland, have already paid offer this type of policy policies were mis-sold, British was suitable for the con- back more that E4m to 13,000 when consumers apply institutions have set aside over sumer; customers who were mis-sold for credit in the form of £5.5bn (E6.6bn) to compensate • institutions treating certain insurance. a mortgage, personal customers. sales as ‘execution only’ The Central Bank is also loan, motor loan, credit Director of Consumer Pro- without complying with considering possible enforce- card or store card. tection, Bernard Sheridan, said the relevant requirements ment actions over concerns Around 340,000 that the reviews by the seven of the 2006 Code; about the level of compliance policies are estimated institutions will be overseen by • the timing of the provision by financial institutions with to have been sold by an independent third party. of key information to con- the 2006 Consumer Protection Irish institutions between “In advance, we are requir- sumers by firms; Code. August 2007 and ing these firms to submit • failure to bring key infor- The regulator’s announce- November 2011. detailed plans for how they mation on policies explic- ment follows its latest round of will conduct their review, itly to the attention of inspections as part of the including contacting affected individual consumers; and on-going investigation of the consumers and making • poor record-keeping and

sale of PPI – which found that refunds where necessary. incomplete files. UNION FINANCE THE IBOA

july 2012 SPECTRUM 15 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 16

IBOA THE FINANCE UNION www.iboa.ie SPECTRUM know you. never wholly you? You'd your life, would never complete but then you'd to die young, avoid old age, be easier to think it would Sometimes I Marilyn Monroe Therecent publication by the Government in the Republic of the draft outline of BLOWING THEWHISTLE appeared reluctant to invest in devicessecurity.designed to deter raiders. This themay explain bank why fromsome institutions a robberyhave themay Universities be less ofthan Sussex the and cost aSurrey. poorly of paid Theinstalling career, report according also some found to aofApart thatrecent the oftenaltogether study security theby a teamlossfrom of issuesto economists of ethics from and criminality, robbing banksCRIME is generallySELDOM PAYS in offering the prospect of protectionthe Protected for workers Disclosures who come forwardin the to blowPublic the Interest Bill 2012 marks a vital step forward whistle on wrongdoing, according to the Irish Congress of Trade Unions. of protections that has left many workers at risk. If enacted, this legislation will be a major advance on the previous patchwork focusdirect july 2012 july See Page 18 See Page 19 into new periods of uncertainty. change, not be thrust again andEmployees againneed time to adjust after FOR BUSINESS CHANGE BAD CONTINUAL and products more clearly. with consumers and to explaintheCentral Bank policiesto use plain English Financial institutions have been told by THE JARGON TIME TOCUT Holland. newtoareport from researchers in developingtheof foetus, according whilepregnant may curb the growth work at periods long Standing for TIME TO SIT See Page 23 See Page 20 See Page 22 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Going for Gold

Olympic suppliers bid to cash in on London Games by abusing workers’ rights The Olympic countdown clock in Trafalgar Square, London sthe global media prepares workers said they were unable Multinational now in the process of develop- to focus on possible drug to wear the safety masks to brands and ing training for some workers, abuseA by athletes as London protect against dust because of and workers across its supply 2012 draws near, the Olympic unrealistic production targets. retailers chain have not been made movement stands accused of The Playfair 2012 campaign aware in their local languages doing too little too late on a – which is supported by the The following brands of their rights or how to use the much more widespread form of British Trades Union Congress and retailers were complaints mechanism. abuse – the abuse of workers and Labour Behind the Label – recorded as sourcing While LOCOG has revealed involved in the manufacture of says this additional evidence from the factories some of its supply chain loca- should increase the pressure tions – mainly in the UK and many products that will feature investigated in the on the International Olympic China – others are unidentified www.iboa.org.uk prominently during the Games. Playfair 2012 report: A new report reveals that Committee (IOC) to improve so that it is impossible for local workers making London 2012 the conditions for workers in unions to verify its claims that China Olympic sportswear for top Olympic supply chains in the its suppliers are respecting the • Adidas brands and high street names run up to the next games in Rio human rights of workers. including Adidas and Next are de Janeiro in 2016. “Despite the best intentions being paid poverty wages, The campaign recognises The Philippines of the London organisers and forced to work excessive over- that, following engagement • Adidas their confidence that factory time and threatened with with Playfair 2012, the London • Brooks audits would… expose any instant dismissal if they com- Organising Committee of the • New Balance abuses, this report shows that Olympic and Paralympic Games

plain about working conditions. • Saucony there have been goods made in www.iboa.ie Researchers working for the (LOCOG) has gone further than • The North Face Olympic supply chains where any of its predecessors in re- Playfair 2012 campaign visited • Under Armour the workers were treated in a quiring suppliers and licencees ten factories – eight of which way that cannot be described to comply with international were producing Olympic goods Sri Lanka standards and by developing a as ethical,” said TUC General – in China, the Philippines and complaints mechanism so that • Adidas Secretary, Brendan Barber. Sri Lanka, and talked to 175 violations can be reported, • Ann Taylor “We hope that the IOC workers about their working investigated and resolved. • Columbia can benefit from the LOCOG conditions. However, the report notes, Sportswear experience and ensure that the The report, Fair games?: “although the majority of pro- • Lane Bryant lessons learned in 2012 lead Human rights of workers in duction is likely to have already • Lululemon to better and fairer working Olympic 2012 supplier factories, taken place, LOCOG is only Athletica conditions for those producing documents a range of working sportswear or merchandise in • Next hours, pay and safety abuses. “Olympism seeks to create a the run up to Rio 2016,” he • Nike In China, for example, at an way of life based on... respect added. “There is much, too, Amerseas Enterprises Factory for universal fundamental • Soma Intimates in this report for sportswear producing sportswear for the ethical principles.” • Speedo brands and our high street • Victoria’s Secret Olympics sponsor, Adidas, Olympic Charter 2011 chains to take on board.” UNION FINANCE THE IBOA

july 2012 SPECTRUM 17 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 18

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk the researchers constructed thean British Bankers' Association, Association. American theand Statistical of the Royal Statistical Societyin wage. average the at pay months' less orthansix £12,706.60– a aroundsuccessful were raid in involved raider each beries yielding nothing at all.£20,331,thirdrob-withofa a bank robbery in the UK were of Sussex and Surrey. economists fromto a recentthe study Universities by a team of poorly paid career, according robbingbanks isgenerally a SPECTRUM A British researches study economics of bank robberies and certainly not very much! Crime seldom pays –

the perpetrators. isfar from glamorous and rarely as lucrative for often romantic portrayal Parker:Barrow andof bank robbers, the reality Significance, Based on data supplied by The results were published for takings average The The average proceeds from ofethics and criminality, part altogether from issues themagazine Despite Hollywood’s july 2012 july security. invest in reluctant to have appeared some institutions explain why This may to deter raiders. devices designed of the security installing some than the cost of bank may be less the loss to the found that often The report measures. deploymentbanksecurityof entduring the event, and the bank staff and customers pres-tionof alarms, the number of the use of firearms, the activa-raidersnumber involved,of raids. thesuccess or failure of bank factors which might influence theeconomists also identified benefit analysis” of bank raids, tence the typical outcome. withalongraid prison– sen- was most likely after thewhich, fourth according to the study,being arrested and convicted possibility the of waslosses – losses. raider’s gains against potential balancingbankrobbing the – economic model for a career in

Thesefactors include the Inconducting their “cost- potential these of One the bank’s bottom line. protection the thanlower of customers rates and staff of calculatesthat theprotection approachissuethewhichto rathersimplistic accountant’s a adoptedinstitutions have –– it may be the case thatsocial andsome psychological ones involveother costssuch – as recognisethat bank robberies prevalence. installingadditional fast-rising of screens cost the with are reasonably low compared – lossestobanks through raids successful raid by one third. reducingprobabilitythe a of appearedto be most effective, onlyin12% Britishof banks rity screens, which are present

this might– explain their low However, since the financial lhuh h authors the Although Of these,Offast-rising secu- IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Blowing the Whistle

Proper Legislation protection must be is vital effective

Effective protection for whistleblowers is a he recent publication by the Government in the Republic of key ingredient in the change in operating the draft outline of the Protected Disclosures in the Public www.iboa.org.uk InterestT Bill 2012 marks a vital step forward in offering the culture which is vital for the recovery of prospect of protection for workers who come forward to blow the whistle on wrongdoing, according to the Irish Congress of Irish banking. Trade Unions. If such protection had been in place If enacted, this legislation which means that they will be during the latter years of the ‘Celtic Tiger will be a major advance on the re-instated in the job until the previous patchwork of pro- case is finally decided. era’, then IBOA’s concerns about troubling tections that has left many Without this vital protection, developments in Irish banking might have workers at risk of falling be- a whistleblower would most

tween the gaps in protection. likely be at risk of financial ruin www.iboa.ie been taken more seriously by the authorities. The draft outline incorpo- – facing the prospect of being A climate of fear has continued to ensure rates many of the recommen- out of work and waiting for dations previously made by years until the issue was re- that employees have been unwilling to Congress and is generally in solved through the legal process. come forward. line with the international best There can be no doubt that practice. fear of losing their jobs would This climate ensures that most bank However, according to the prevent workers back from staff believe that if they stick their necks out, ICTU, the proposed protection raising concerns. against reprisals by employers To be credible the new there is every likelihood that they would falls short of what is required legislation needs to protect not only be managed out of their current and compares unfavourably workers in reality as well as on employment but also be effectively black- with international and best paper, says Congress. practice standards. The absence of this crucial listed in terms of future employment in If whistle-blowers in the provision is a major omission, Irish banking. UK are threatened with dis- according to Congress, especially This must change. missal, for example, they can since the draft legislation has apply for “interim relief” – ⁄ UNION FINANCE THE IBOA

july 2012 SPECTRUM 19 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 20

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk SPECTRUM equality legislation. employment in provisions kind, along the lines of similaranyadverse treatment ofthis theemployer make vicariously also should liable lawfor recommending new the that otheremployees, Congress is clients, and by contractors customers or even employer’s their by treatment adverse any protected from also are To ensure that whistleblowers new legislation. protected a bedisclosure to considered under be alsothe representation, or information support,then get this should theirtrade unions inorder to whistleblowersdiscusstheir disclosures when with that theirclients, the ICTU argues privilegebetween lawyers and their union. Likeadvice the andprinciple representation help, seek to free ofshould be from Congress believes that workers on investigations. and formats for for reporting disclosures internal backmaking procedures blowers, theconfidentiality of whistle- measures to be taken toto be putprotect includingin place – model policies and procedures legislation in the workplace. underpinthe operation of the a Statutory Code of Practice tourgedGovernment strongly to also develop has Congress all other matters. taken UK law as a blueprint in says the ICTU. are covered by the legislation,”to keep quiet waiting “workersuntil shouldthey not be forced whistleblowers in: kicksfor protection the beforeperiod qualificationrequirement or that there should be no service employments. formof blacklisting by future enduring discrimination inblowers the against long-term and the law should protect whistle-

This code should set outshouldcodeThisset Congressalsoarguedhas Congressis also keen that Union Representation Vicarious Liability Code of Practice july 2012 july S maret –a wl a toe with those as intellectual well asdisabilities. – impairments hearing or visual as such disabilities – consumers, including those withvulnerableneedsaccounttake physicalofthe of information. thatconsumers haveclearaccurateand so properly terms financial explain to Bank – such as the use of plainofusethe suchEnglishas Bank– Central theimprovement, according to with the new rules. satisfactory progress infound thatmostinstitutionstraining makingare staff to dealduced at the start of the year,thenew theconsumer regulatorprotection code intro- way to sayssay itregulator – If in doubt, leave it or outfind – a clearer No more jargon thepublication ofresearch showing that The Central Bank’s focus on jargon follows policies and products to older people or the less educated. F

whendealing with consumers. They should also make aspecial effort to explain inancialinstitutions have been told by the Irish Central Bank to use plain English The institutions have also been told to However, some areas are in need ofneedHowever,in areasare some reviewIna oftheimplementation of Makingcents.ie and the key points to look outping for.them with the right questions to ask people make informed decisionsspecialised moneyby advice,equip- it aims to help cial institutions apply. and the terms and proceduresplainEnglish commonwhich financial finan-products their choices. comfortable are and with tosigning up decisionsthey understand what they are thatwhen they make important financial more about money and byfinancial providing matters tools so to MakingCents.iehelp users triesunderstand to tackleAdultLiteracy thisAgency (NALA) problemand EBS, adding up a bill orequity understanding and compound interest a as paywell – ing asslip. common financial termsmany suchpeople – as have APR, difficulties understand-

Althoughthe website cannot provide aiget.e ek t epan in explain to Makingcents.ie seeks A joint initiative between the National IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Keep your finger on the pulse… www.iboa.org.uk www.iboa.ie

Check out www.iboa.ie or www.iboa.org.uk for all the latest news and much more IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 21 HR TRE ESRVE AEYFCSIBOA NEWS SAFETY FOCUS NEWSREVIEW SHORT STORIES 22

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk the United States. provide paid sick leave, but not paid sick leave for workers. pass legislation that guaranteesright” and that workers’ “basic Congress a beshould should leave sick paid thatbelieve Americansthree-quarters of AFL-CLO,reports recent the surveysfederation, show that their job. losing risk and paywithout goto work sick, or stay home theybecome ill, are forced to have no paid sick days and whenwhen they are sick. who can least afford toincome loseworkers aretheones pay high-wage workers. These low the US, compared with 86% workersof have paid sick dayswagelowof found 19%just in nomic Policy Institute (EPI). toa recent report by the Eco- bottom wage scale, according than workers toiling near the likelyto have paid sick days morearethanfourtimes as SPECTRUM W in US pay-related effectively sick leave is Access to

oe hn 6 countries 160 than More nationalThetrade union Overall one in four workers Snapshot EconomicThe ae cl i te US the in scalewage orkersat the top of the july 2012 july and long working hoursphysically were demanding work shifts. whilearound 4%worked 6%,night just for job the of part was walk for long periods. Heavytime lifting on their feet and 45.5% had to shifts and long working hours.periods of standing includingor walking,whether jobs,these involved nightlifting, their long of demands physical the and conditions working thewomenwere questioned abouttheir between 2002 and 2006. mums-to-be from early assessedpregnancythefoetal growth rates 4,680of onwards Occupational and journal,Environmental the findings recently in online Medicine, S

r gatwomen pregnant is bad for at work Standing the job down on To Sit Time Theresults showed that 38.5% of the women spent a long pregnancy, their through Midway Dutch researchers, who published their developing foetus, new research indicates. tandingfor long periods at work while pregnant may curb the growth of the theirfeet during their pregnancy, injobs foetal development. ofpregnancy have any adverse impact on premature birth. with weight, birth or overall or size on not consistently associated with restrictions

suchassales, childcare, andteaching, But women who spent long periods on Nor did working up to 34 or 36 weeks a bbe woe ed wr an were heads whose babies had vrg o 1 m 3) smaller (3%) than cm 1 average of averageatbirth, implying slowera growth rate. stillbirth and low birth weight. hoursweeka had smaller babies than those who worked under 25 hours a week. Those who worked more than 40 it defects,birth premature birth, hoursmay increase the risk of niae ta ln working long thatindicated Previousresearchalsohas IBOA EXTRA WORK AGENDA LIFE & STYLE 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 Employee anxiety environments for everyone. IBOA has produced guide- lines on your rights under health is bad for business and safety legislation in the Republic and . These can be accessed on Constant change is more likely to result the IBOA websites by following these links: • www.iboa.ie/knowyour in staff burn out, say researchers rights/yourrightsroi/health- safety.html for the Republic of www.iboa.org.uk any employees feel it to be true “Employers and senior managers need Ireland; and and now research has proved it – to stop foisting continual change upon • www.iboa.org.uk/knowyour businessesM really don’t care how constant their staff in a bid to stay viable as a busi- rights/yourrightsni.html for change affects their staff. ness,’ he said. Northern Ireland. Business failure is directly related to “The secret is not to ignore the fact If you have any questions senior managers not understanding or change can threaten the staff who, in turn, or concerns about health, safety caring that change can knock a workforce can become exhausted, cynical or depressed, or security in your workplace, off its feet, according to researchers from which destabilises the organisation.” please contact a member of your the University of Portsmouth Business “The worst thing is that those who are local health and safety commit-

School. more likely to burnout in the workplace are tee in the first instance. www.iboa.ie In their study, Continuous organisa- the most engaged and hardworking staff,” If there is no health and tional change and burnout, published in added his colleague, Sally Rumbles. safety committee in your work- the International Journal of Knowledge, “If a business loses those people, then place, please contact one of Culture and Change Management, Gary it risks destabilising the business. Instead the following members of the Rees and Sally Rumbles found alarming of seeing people as the most important Union’s National Committee: results. asset and what gives a business its Elaine Barker (BOI), Carmel “Employees are an organisation’s most com petitive advantage, too many senior Curran (FTB), Margaret Power valuable asset and collectively have the managers think what is good for business (BOI-GB), Stephen Kennedy power to help businesses survive and is good for the workers.” (BOI), Etain Ryan Lyons (AIB), thrive in bad times as well as in good,” Rees “Continual change can feel like Jaynette Stirling (UBG-NI), Kate commented. bereavement and employees need time to Varley (AIB) and Billy Barrett, “Managers seem to think they have a recover and adjust after change, not be Senior Industrial Relations licence to change, but our research has thrust again and again into new periods Officer. shown high-level executives admit only of uncertainty and new initiatives and You can contact all of these about a third of changes they’ve made are restructuring. Businesses need to plan by e-mail at [email protected] or by successful and have helped sustain their change, execute it and then tell staff the phone at 00-353-(0)1-4755908

company through turbulent times.” turmoil is over.” or 00-44-(0)2890-200130. UNION FINANCE THE IBOA

july 2012 SPECTRUM 23 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 24

IBOA THE FINANCE UNION www.iboa.ie w SPECTRUM ambition. men lack equal with seek to be Women who Marilyn Monroe business at post offices in future.its customers will be able to do moretoclose a number of its branches as AIB has informed its staff that it intends SMALLER AIB DUFFY PLANS influencing it. past amid serious contemplation of Irisheverything with banking’sa thoughtful – futureand andat times IBOA’semotional vitalIBOA’s rolecelebration recent inBank District of the Secretaries’ ConferenceUnion’s inGalway hadjust about CONFERENCE INGALWAY HISTORIC BANKSECRETARIES iboadirect july 2012 july See Page 26 the Irish Congress of Trade Unions.tothe Northern Ireland Committee of Gerry Hanna, has secured re-electionIBOA Senior Industrial Relations Officer, NIC-ICTU SEAT HANNA RETAINS card in store. membership of your IBOA on presentation Northern Ireland Ireland or Republic of purchased in the 10% off all products See Page 28-29 See Page 27 Ulster Bank. Officerwith responsibility for Industrial SeniorAIB as andIBOA Relations BillyBarrett has rejoined the staff of NEW OFFICIAL UNION APPOINTS member as he Committee leaves Executive Northern and Bank. Officer stand down as IBOA’s Danske to decided Group has Thompson Robert IT ADAY ROBERT CALLS See Page 27 See Page 30 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Boss’s bogus bonus bogey

Brown off: Ulster Bank Chief Executive, Jim Brown, leaves Dáil Éireann by car, after appearing before the Oireachtas Finance and Public Expenditure Committee to answer questions on the crisis in Ulster Bank arising from the RBS computer failure. (Photo: Sam Boal, Photocall-Ireland).

he decision by the Chief "In view of the huge damage Ulster Bank “As a further measure to re- Executive of Ulster Bank, to its reputation, Ulster Bank build confidence, RBS should also JimT Brown, to forgo any bonus should follow up on its commit- chief’s bonus give a clear and unambiguous that might have been awarded ment to provide compensation – commitment to the future oper- for this year has been welcomed by setting out an agreed gesture is ation of Ulster Bank in Ireland – by IBOA General Secretary, independent mechanism for including the provision of the Larry Broderick, who added the lodging, assessing and necessary necessary support to staff to that, “even before the current settling of claims for both its step in bid ensure that Ulster can become a crisis, there was something own customers and those of fully functioning bank as soon other institutions who have been as possible. One of the major surreal about providing extra to rebuild www.iboa.org.uk rewards to the boss of a loss- adversely affected by the crisis. lessons that has come out of this making business which earlier “The Bank also needs to put Bank’s catastrophic situation has been this year announced plans for in place a genuinely effective the sterling performance of the risk management plan which Bank’s frontline staff in the a further 950 job losses.” reputation – would not only seek to minimise branches and call centres. “While we acknowledge that the current unprecedented diffi- the risk of any technological Broderick “The Union’s belief in the culties clearly originated in RBS, failure – but also lay down clear quality and dedication of its the handling of the ongoing fall- procedures and processes to be members in Ulster Bank has out by Ulster Bank has raised followed in the event of such a been confirmed by the glowing serious concerns for the bank’s failure in the future,” he said. tributes that have been paid in

own customers as well as others “In this case, it is clear that the media by customers, who, www.iboa.ie affected by the consequences of the delays in resolving the IT despite their obvious frustration the event,” said the IBOA leader. problems for Ulster Bank were with the responses from the “Apart from the immediate exacerbated by the fact that they Bank’s senior management, issue of restoring a full and were enmeshed in the computer have praised the frontline staff effective banking service, a key systems of RBS and NatWest Bank. for their unfailing patience task for the Bank will be to re- “The independent review, and courtesy in such difficult establish trust with its customers, which RBS has committed to circumstances. restore faith with its staff and conduct into this affair, must “These staff have made a real rebuild confidence with the give serious consideration to the difference in getting the Bank public at large. provision of a stand-alone IT through this crisis. I hope the “Jim Brown’s decision on his facility for Ulster Bank – and at Bank will continue to recognise personal finances can be seen in the very least review the archi- Staff key: Ulster Bank the significance of their role this context. But this gesture tecture of the RBS system which, should remember the key after the dust settles – and will should be accompanied by whether by historical accident or role played by frontline staff ensure that this role is properly further substantive measures otherwise, has resulted in a in crisis – IBOA General supported within the new which will be of enduring different level of service to Ulster Secretary, Larry Broderick operational framework that is benefit to all of Ulster Bank’s Bank customers compared to (Photo: Sasko Lazarov, being developed in Ulster Bank,”

customers. others in the RBS Group. Photocall-Ireland). said the IBOA leader. UNION FINANCE THE IBOA

july 2012 SPECTRUM 25 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 26

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk services to new locations.” areas, new AIB will bring banking and branchopeningsselectedin banks mobile lower costs. reduceas part of the move to thenumber ofbranches will “Regrettablythis means that AIB’s senior management said: excluding its EBS subsidiary. currently operates 270 outletsrural areas could – close. AIB branches including – many in speculated that as many as 90 deposit account transactions. and lodgements arelikelyincludeto cheque ducedinthe coming months offices. post in availablecurrently services banking of range co-operate extending on the to Post An withagreement the future. transactionsat post offices in will customersbe able to conduct itsmore as Republic number of its branches in the SPECTRUM A with An Post AIB links up Republic after planned in closures Branch

Bt hog te s of use the through “But In a strategy update to staff Media commentators have Newservices tobe intro- recently reachedAIB an thatintendsit closeto a IB hasinformedIB itsstaff july 2012 july smaller bank Duffy plans for IBOA AIB and between started talks get Intensive Duffy’s circus: • • • vision for the Bank as follows: for the staff of the Bank. Groupimplicationstheand management’sstrategyfor the future seniorof AIB the earlierthis month to discuss Chief Executive, David Duffy, T r uf otie his outlined Duffy Mr AIB Group Chief Executive, David Duffy, at the Bank’s recent AGM and UK involv- acrossnetwork arestructure of the Retail a new management team; a One Bank structure with greater customer focus; with model Bank new a Committee met AIB Group (Photo: Laura Hutton, Photocall-Ireland) he Union’s AIB Executive o ul eoito wt the negotiation with full to Chief the Executive's welcomed commitment – Broderick Secretary, Larry Generalby led – team IBOA theWhile • • Partnership Principles. agreed the with line in and negotiation consultation with the Unionfull Executive committing to withandthe staffChief – IBOA includingholders engagement with key stake2014; and areturn to profitability by ing some branch closures; ⁄ IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Union, they also highlighted the major contribution which has already been made by IBOA members in AIB during the most difficult of circumstances in order to maintain the Bank’s relationships with customers. The IBOA team stressed that the success of the Bank would depend on the following: • agreement on a Fair Deal to Stay for staff who wish to remain in the Bank; • delivery of all aspects of the agreement brokered by the mediator, Kevin Foley, for members who wish to leave the bank voluntarily; • full transparency about the Bank’s plans in each area – including its proposals for the branch network, out- sourcing and for all support structures; • full engagement with IBOA on outstanding issues such as pay, pensions and terms and conditions of employ- At the rostrum: IBOA Senior Industrial Relations Officer, Gerry Hanna, addresses the recent Biennial Delegate ment in line with the Conference of the Northern Ireland Committee of the Irish Congress of Trade Unions (NIC-ICTU) at the City Hotel Partnership Principles. in Derry (Photo: Kevin Cooper/Photoline).

Next Steps As a result of the meeting, AIB senior management and IBOA Gerry gets back…

have agreed on a number of www.iboa.org.uk measures. BOA’s Senior Industrial He was re-elected at the the banking crisis – high- The Bank has now begun Relations Officer, Gerry recent NIC-ICTU Biennial lighting its impact on jobs to review all the applications Hanna,I has secured re- Delegate Conference in the and services to customers – received from staff for volun- election to the Northern City Hotel, Derry. and pledging support for tary severance and early retire- Ireland Committee of the The Conference also IBOA’s ongoing efforts to ment in line with the Foley Irish Congress of Trade backed a comprehensive change the culture of agreement. Unions (NIC-ICTU) for motion from IBOA on the banking in both Northern Senior management has another two-year term. continuing fall-out from Ireland and the Republic. also pledged to honour the requirement from the mediator to enable the Bank’s staff to www.iboa.ie make informed decisions about …and Billy’s their future. The Bank has committed to provide timely information to IBOA and staff on the Bank's back, too specific proposals in each area including timelines for their illy Barrett has returned to the staff of IBOA as a implementation. Senior Industrial Relations Officer. Intense negotiations have B Billy left the service of the Union in 2008 to become also begun now between IBOA Head of Human Resources for the Superquinn super- and the Bank on the Chief market chain. Executive’s earlier announce- Billy’s replacement in IBOA was Steve Tweed who ment on proposals on pay, left the Union last December to become Director of pensions and benefits. These Industrial Relations at the Irish Medical Organisation. are expected to be concluded Billy has now assumed particular responsibility for by September 2012. negotiations on behalf of IBOA members in AIB and

S Ulster Bank. Billy Barrett UNION FINANCE THE IBOA

july 2012 SPECTRUM 27 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 28

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk employers (Photo: Tadhg Keady). disciplinarythreatsandof actionby casesinvolving employee grievances collective includingissues personal– personal: and close Up SPECTRUM many ways Memorable in event packed Action THE FUTUREISATSTAKE numberof individual asopposed – to unionscan address the growth in the Brady, Director of Workplace Solutions, drse dlgts n o trade how on delegatesaddressed Bank WE ARESTAKEHOLDERS Conference 2 1 0 2 y a w l a G Secretaries july 2012 july Pat Galway was most memorable.Mayat the Clayton Hotel in announcementsin Ulster Bank on the heels of earlierBank of substantiveIreland following – harddevelopments in AIB Groupnews andon the second day of major a celebration of the Union’sthe past Conference which – included T rightthrough – to the breaking

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THE FUTURE IS AT STAKE

WE ARE STAKEHOLDERS Bank District Secretaries Conference Galway 2012

APPRECIATION: The context for the book’s employments – which are out- Guest speakers, Alan Tate Applause from some of key themes was admirably set lined elsewhere in this issue of and Pat Brady, also provided the delegates at the Bank by Professor Bill Roche from Spectrum, delegates also heard useful updates for delegates on District Secretaries Con- UCD who also paid tribute to a number of presentations on emerging trends in the areas ference in Galway (Photo: the authors’ skill in bringing the important developments taking of trade union organising and Tadhg Keady). subject matter to life so vividly. place in the Union – including responses to the increasing The session also featured a video preparations for the launch of incidence of personal cases, collage with images of some of an online basic training course respectively. the key events and personalities for IBOA Reps, ongoing work on In between this action- woven into the rich tapestry of creating an IBOA app for tablet packed agenda, delegates also IBOA’s history. computers based on Spectrum, availed of the opportunity to net- Aside from formulating and recent developments in the work informally and exchange responses to the major industrial Union’s activities on health, experiences. www.iboa.org.uk relations developments in key safety and security. S The Phantom of the Opera

Bord Gais Energy Theatre, 27 July 2012, 6:30p E E Normal Price: 55 IBOA Price: 45 www.iboa.ie

Organising through the crisis: Guest speaker, Alan Tate, from the UNI Global Union Federation made a very insightful presentation on how trade unions in the financial services sector are responding to the global crisis by building their membership strength in SOLD OUT order to defend jobs, pay, terms and

conditions (Photo: Tadhg Keady). UNION FINANCE THE IBOA

july 2012 SPECTRUM 29 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 30

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk representative role, Robert also Group and latterlyIrish DanskeBank in NationalBank. in Northern Australia Bank and BankNational Officer” representingyears staff particularly – sixteen over BankNorthern in in his members Union’srole the as to Robertfor “his excellent Larry Broderick,service paid tribute to Group Officer. fromhis post as from the Union Executive and side the Danske Bank Group. Bank to pursue Northern his incareer developments out- has decided to avail of recent SPECTRUM I it a day Robert calls

amount to IBOA Historytogether Orders with at IBOAa cheque House, orStephen postal order for the appropriate Street Upper, Dublin 8 or e-mail [email protected]. copies required and yourprice, IBOA pleasemembership send your numbername, address, – the number of or £8 (including postage and packing).for sale to members at the special discount pricereckless of as to bankrupt thoroughlythe so conservative oneIrish a industryfrom to State. pictureIrelandof notleast– howofbanking moved specially commissioned by the Union. P of IBOAA history Change Handling

Officer,Robert Thompson, BOA’s Danske Bank Group In addition to his immediate Secretary, GeneralIBOA Accordingly he has resigned Toorder up to two copies at the special discount IBOAhas alimited number of copies of the book fascinating a offers IBOA the evolution of The Rouse and Mark Duncan, ublished by the Collins Press and – written by Paul july 2012 july Handling Change, Northern Bank. duringthe 1994 duty strike in picket on (right) right)Robert Thompson line: the On Northern Bank. resignednowfromhas Officer, Robert Thompson,former Danske BankOnthe move: Group (above) (above was E 10 Education Committee. served on the Union’s membership toNational training and of fora dealing with the issue.withdistinction in anumber fication and– representingachieving a higher levelIBOA quali-workplace health and safety – developedkeeninteresta in Hewas deeply committed Constitution. IBOA’s with line in course and for Danske Group Officer Executive Committee member forvacanciestheinUnion – Bankers’ Club Committee. standing member of the Belfast whichwill befilled – indue

His resignation leaves two oet a as a long- a also was Robert IBOA EXTRA 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.

Coming Up: THE 27th BANKERS’ CLUB DRAW

Magnificent Holidays and Magnificent Cash Prizes NB: 10 prizes of E100 each for early entries received by October 31, 2012 Still only E45 for 10 Great Draw Months See Draw Application Forms included with this issue of Spectrum.

UPCOMING CLUB CLUB DRAW NIGHTS MEMBERSHIP

Friday July 27: New members welcome – E 1st Prize – Two weeks holiday Cost only 20 per annum! for two in Portugal Facilities include: • Reduced room hire rates Friday September 28: • Bar and meeting room facilities. Two weeks holiday • Catering and DJ facilities available

• Big screen for all sporting occasions www.iboa.org.uk for two to Majorca • Full bar licence – extensions available

Friday October 26: For more information, please contact 1st Prize – Two weeks holiday Michael Martin, Honorary Secretary, Irish Bankers’ Club at the address above. for two to Seychelles and Dubai

Each monthly draw also offers Results of recent Bankers’ Club draws 2nd Prize: E300, 3rd Prize: E250, are posted on the IBOA websites: 4th Prize: 2100. www.iboa.ie/services/sports www.iboa.ie 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

Club Bookings SPECIAL OFFERS FOR 2012

All IBOA members, y kers’ Club for a party or special function for just E100 for July-December 2012 Phone Alan at 01-4758970 Book your Christmas Party at the Bankers’ Club and enjoy free room hire during November and December! IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 31 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 32

IBOA THE FINANCE UNION www.iboa.ie www SPECTRUM them pretty! make one of faced, at least to be two- If you're going Marilyn Monroe gears up to campaign for fair treatment. h Union’sThe Pensioners Members’ Committee BACK TO THE FUTURE members in Northern Ireland. new partnership agreement withthe theofficial North-West opening ofRegional the Union’s College computerMinister trainingfor for Employmentthe suite provision in and the Learning, IBOA of Officeseducation Dr. Stephen in Malone and Farry, Road, training was Belfast, on hand courses and to theendorseSUITE signing for two of IBOAmajor a DEAL training initiativesFOR IBOA by IBOA – MEMBERS IN NORTHERN IRELAND IBOA backs campaign for more tolerant workplace.DIVERSITY ATWORK extradirect july 2012 july See Page 36 See Page 37 Don’t forget…

SPORTS

E•V•E•N•T members on Saturday SeptemberEntry 1. to Dublin Zoo is FREE for IBOA

A • O • B • I

SO

IAL children. children for entry free get and gate the IBOA at membership card your show Just either or aut ad 4 adults and 2 1 adult5 and1 See Page 34-35 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

uld be – if it had higher mbership levels – not just Now more than ever the employments where OA already has members t also in other parts of the ancial services sector. To assist members who wish approach work colleagues to courage them to join IBOA, ecific resource materials are w available for members to wnload from the Union bsites – including PDFs, werpoint presentations and ord files. These resources include: Techniques and Tips for Organising; Powerpoint Presentation for It’s time to build the Union Non-Members; IBOA Notice Board Poster Identifying Growth Potential: aintaining the Union’s Despite the unprecedented Mapping Your Workplace; Mstrength – and even crisis in the financial services • Dealing with Objections building it where possible – is sector, IBOA has managed from Non-Members; and crucial to ensure that IBOA to ensure that any job losses • Membership Application has the bargaining power to would be voluntary and that Form secure the best possible terms major changes to terms and These resources are available for members in their relation- conditions of employment at www.iboa.ie/my/strength/ or ships with employers, regulators should be negotiated and www.iboa.org.uk/my/strength/. and other Government agencies. agreed before implementation. For further information, Every member has a per- The Union has managed please contact our Organising sonal interest in encouraging to achieve this – even though as many work colleagues as in some cases it represents Official, Gareth Murphy, in

IBOA House at 00-353-1- www.iboa.org.uk possible to join IBOA so that Gareth Murphy, less than half of the staff in a the Union can exert the maxi- particular employment. 4755908 or 00-44-2890-200130 IBOA Organising or [email protected]. mum influence on behalf of Official So just imagine how much everyone in the employment. more effective the Union www.iboa.ie IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 33 SHORT STORIES NEWS REVIEW SPECIAL FOCUS IBOA NEWS

Suite deal for Union members in Northern Ireland

Minister backs IT training for IBOA members

inister for Employment work through the financial Minister for Employment some measure of security in and Learning in Northern services sector here. and Learning, Dr. Stephen these difficult times. Ireland,M Dr. Stephen Farry “IBOA is endeavouring to Farry performs the formal “Our Computer Training www.iboa.org.uk performed the official opening assist our members in a variety opening of the Union’s Suite has already been put to of the new computer training of ways – both in terms of the IT training suite in Belfast good use by our first groups of suite in a ceremony last traditional industrial relations – with IBOA President, learners. So we are confident month at the IBOA offices in agenda and other vocational Jessie Doherty (Photo: that it will make a real differ- Malone Road, Belfast. supports – which can provide Kevin Cooper/Photoline). ence for our members.” The Minister also endorsed a new partnership agreement between the North West I•B•O•A Regional College (NWRC) and IBOA under which the college Take pride SPORTS

www.iboa.ie will provide a number of education programmes for S IAL Union members across North- in your E•V•E•N•T ern Ireland (see page opposite). Speaking at the launch, IBOA Training Officer, Marian union Geoghegan, said: “Finance workers in Northern Ireland face a very uncertain future. All of the major banking Entry to Belfast groups are retrenching – some Zoo is FREE for more dramatically than others. IBOA members “It has been estimated that on Saturday up to 2,000 banking jobs could have been lost in Northern October 6. Ireland by the end of 2013 as the repercussions of this Just show your IBOA membership card at the gate and get free entry for either 2 adults and 4 children or 1 adult and 5 children. IBOA THE FINANCE UNION FINANCE THE IBOA unprecedented global crisis

34 SPECTRUM july 2012 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

The Union Learning Fund for Northern Ireland was established to promote activity by trade unions in support of the Government’s objective of creating a learning society. IBOA successfully applied to become a Union Learning project in 2011. Under this project, trade IBOA Training Officer, Marian Geoghegan, signs the partnership agreement, watched by John Hueston union members are encouraged of the North West Regional College and Union President, Jessie Doherty (Photo: Kevin Cooper/Photoline). to become Union Learning repre- sentatives (ULRs). A ULR is an activist who is Express training trained to support learning in the workplace and to advise members about learning opportunities. Partnership opens up new horizons There is evidence that more individuals will undertake train- ing and education if they are for members in Northern Ireland offered information, advice and support from a ULR. BOA’s training provision for mem- The College’s Principal and Chief ULRs communicate directly bers in Northern Ireland has taken Executive, Séamus Murphy, high- with fellow workers, employers aI further step forward with the ratifi- lighted the NWRC’s key aim to provide and training providers to identify

cation of a partnership agreement quality education and training for all: a range of learning opportunities www.iboa.org.uk between the Union and the North “We are committed to providing and to make them available to West Regional College (NWRC) – one programmes that respond flexibly to the workforce. of the foremost providers of adult the educational and training needs of Any members interested in education in the region. local industry, and we are pleased to taking on such a role in their The formal signing of the agree- offer this to our colleagues in the IBOA. workplace should call the ment was witnessed by the Minister for This partnership will allow IBOA Union’s Training Officer, Marian Employment and Learning, Dr. Stephen members to develop their lifelong Geoghegan, in IBOA House on Farry, whose Department has been learning and enhance their career (00-44)2890-200130 or e-mail her responsible for administering the prospects by accessing our portfolio of at [email protected]. Union Learning Fund which is likely bespoke upskilling courses.”

to support some of the training courses IBOA Training Officer, Marian www.iboa.ie to be provided under the new partner- Geoghegan added that the Union was ship arrangement. confident that “our growing relation- ”The Union Learning Fund helps ship with the North West Regional unions work in partnership with College will deliver further crucial employers to raise employees’ skills support to them in the months and levels and aspirations,” said Dr. Farry. years ahead. “It also helps to ensure that we con- She also acknowledged that these tinue to invest in the skills and talents latest initiatives had been made possible of our people – because it is people who by IBOA’s involvement in the Union will get us through these challenging Learning Project – which has been economic times. funded and supported by the Depart- “This training commitment will be ment of Employment and Learning Learned Reps: Two of IBOA’s Union made even more tangible by the partner- through the Northern Ireland Committee Learning Reps recently received diplomas ship agreement between IBOA and the of the Irish Congress of Trade Unions. from the Open College Network – John Burns North West Regional College to pro- “The contribution of the Union Learn- (left) in Employment Law and Liam Ross in vide future learning opportunities for ing Project supported by the Depart- Occupational Health and Safety.

finance workers.” ment cannot be overstated,” she said. UNION FINANCE THE IBOA

july 2012 SPECTRUM 35 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 36

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk from time to time. well as at other meetings held Secretary Larry Broderick as – hears a report thefrom Generaldiscussesa range of issues Committee, elects thewhich and biennial meeting formalthe pensioner suchmembers as – and raise them at meetings for cerns known to the Committee respects. several benefit in their to is theirIBOA membership. This now on pension, have retained service on pension. bank’s the leave they when continueUnionasmembers to opt who members IBOA of interests the represents SPECTRUM mutual interest of mattersand discuss concern. to basis Honorary Secretary IBOA’son General a regularSecretary and andHonorary Secretary meet become part of IBOA policy. passed, motions if which, debatefor propose may and BiennialDelegate Conference representedis theUnion’sat animportant role in IBOA. It whichmeets quarterly, plays Pensioners’ Committee,The services and social events. goods, various for members to offer on discountslatest the mployment each and in learn aboutthe can latest theydevelopments where and which is exclusive to areamembersof the Union websites – also have access IBOAto from the time to Mytime. TheyIBOA communications fromother receive up to date with major issues. pensioner members kept are Also, lunches! pensioners’ annual the cancelled banks is especially the colleaguescasemeetingsatthis – since work former with some again up also.Members enjoy meeting advantages social are There T

Theycan make their con- staff, bank former Many The Committee’s Chairman also membersPensioner ebr’ Committee Members’ e no’ Pensioner Union’s he Keeping up to date Representation Spectrum s el as well as july 2012 july Age is no barrier current committee are: (Honorary Secretary) Margaret McGoldrick The members of the Brendan O’Donohue IBOA Pensioner Geraldine Langan Planning for the Future: Fergus Reynolds Seán O’Sullivan Hilary Acheson Maeve Gannon John McKenna Leonard Coote Michael Miller Harold Strong Frank Cannon Des Sheridan Committee Colin Gracey Marie Lohan Cecil Barron Members’ Ted O’Leary (Chairman) Tom Lydon Bríd Keelty Ken Doyle ersn te neet of retired interests workers. the represent Workers’ whichseeksto Committee– Retired Unions’ inthe Irish Congress of Trade Committee plays an active role Defined Benefit schemes.pational pensions, especially on the growing threats to occu- on senior citizens. Health and their – likely effect from Government Departmentslegislative proposals coming ers and older people. matters of concern to pension-interacts with Government on Parliament a key– body Citizens’ which Irish Senior the to to outline the need to parliamentarytreat staffrepresentatives activein writing to their local membersofIBOA have been continue to down-size, retired increasingpressurebanks as under coming staff serving conditionsemploymentof of termsandandpayWiththe – such as the Departmentthe suchas of –

The Union’s Pensioner Members’ Committee pictured at a recent meeting h IO Pensioners’ IBOA The TheParliament also lobbies The Parliament scrutinises The Committee is affiliated Still Campaigning (Photo: Tommy Clancy) regarded areas contractual. which of many ditions attackon staff terms the and con- deprecating employers former own their towriting 100% State-owned. institutionsvirtuallythatare particularlywithrespect – in [email protected]. to email an send directly or youcan contact any member Committee, the of work the when they retire. their association IBOAthatthetheycontinuewith the Union It is in their interest mayand become that now pensioners.of activemany Union members that likely is it ployments, packages on offer in many em- £16.40 each half year. July and amounts to twice January yearly, and in payable subscription is The from IBOA to rejoin thethey Union. receive an applicationretirefromwork pension,on form members simple. As isThis

esoe mmes are members Pensioner o mr information moreFor on ih al retirement early With How to Join Ken Doyle E 22.36 or IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Excellence in Diversity Seeking Inclusion of Gay, Lesbian and Bisexual Employees ow does your employer measure up in regard to theirH policies and practices on the inclusion of lesbian, gay and bisexual employees? Not well, according to some IBOA members who are interested in developing greater inclusion in the workplace. IBOA was singled out by Davin Roche, Director of Workplace Diversity at the Gay and Lesbian Network (GLEN), as a key support in the design of a new online toolkit, Excellence in Diversity, which was launched recently by Dublin’s new Lord Mayor, Naoise Ó Muirí, and Jim Ryan, Director with Ernst and Young. In particular, he thanked IBOA Equality Officer, Marian Geoghegan, for assisting in Diversity Matters: Excellence in Diversityis a on how to develop their the development of the toolkit Davin Roche, Director of quick and easy to use online diversity practice which has been piloted in the Workplace Diversity for self-assessment toolkit that • find different approaches www.iboa.org.uk the Gay and Lesbian financial services and IT helps organisations to realise to designing and imple- Equality Network (left) sectors. pictured with IBOA’s the benefits of gay, lesbian bi- menting their workplace Marian has asked IBOA Marian Geoghegan at sexual and transgender diver- diversity strategy members, who wish to assist the launch of the new sity. It will help organisations to:• identify short-, medium- in progressing the LGBT agenda Excellence in Diversity • measure their diversity and long-term targets to in the financial services sector, online toolkit. performance against best improve performance to contact her by e-mail at practice standards The toolkit is accessible on [email protected]. • receive practical guidance www.excellenceindiversity.ie www.iboa.ie DON’T BE LATE FOR THIS VERY IMPORTANT DATE! Once again, Cheerios and Cork Opera House aim to present the most spectacular Christmas pantomime in the land.

Join Alice, Mad Hatter, The Tweedles, the White Rabbit and a host of timeless characters as they set out on an adventure like no other in a quest to overthrow the villainous Red Queen and restore happiness to the land known as Wonder. Featuring stunning scenery and special effects, this production will be a magical musical roller-coaster ride for all the family.

IBOA is offering members tickets for the performance on Saturday, January 5, 2013 at 2.30pm at a special discounted rate of E20 compared to the normal price of E27. These tickets are available from Stephen Kennedy at Bank of Ireland, 32 South Mall, Cork. IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 37 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 38

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk hisnew album, turefor the former soul man into Country music, Odysseyshowcasing Arena on September 26. The tour marks a new depar- Willie Nelson, Shania Twain,Richie’s Kennygreatest hits Rogersinduets with major andcountry Jimmyartists like Buffett. revelation.” and return of journey “a as new album thehas South,been Deepdescribed America’s town of Tuskegee, Alabama in sellingalbum of biggest 2012. second the the US where in public the withpopular ithas puristsproved – highly infuriated some Countryeyebrows musicinitially and even – Country raised many ofcall answering RichieLionel the SPECTRUM T soul star’s Southern roots Tuskagee tour focuses on country style greatest hits – Lionel Richie’s

ae atr i home his after Named of prospect the While at the O2 in Dublin on September 24, followed by Belfast’s heEuropean leg of Lionel Richie’s Tuskegee tour kicks off Tayto Park, . Meath Ashbourne, C pca BOASpecial Price: SOLD OUT IBOA FamilyDay Normal Price: Tuskegee Saturday 28th July 2012 Tuskegee, is now july 2012 july whichfeatures new treatments of E o 1 ht; n wn five Grammys, won and a hits;Golden 10Globe topand millionalbums; registered 22 years, thirtyRichie thanhas sold more overspanning 100 you are, or where you’reyoungmatteroroldnohow from.” and where dreams come truehope, – promise, empowerment,place that representsvalidation. possibilities, It’s a state of mind where at arrived I am I today,” how and saysfrom Richie.

12 per ticket n rmral career remarkable a In “I’ve come full circle. It’s a came I where about“It’s E 6 per ticket –a

PRTS SP

E•V•E•N•T Normal Price: The O2 Dublin 7.30pm Monday September 24 The Tuskagee Tour Lionel Richie: plus £45.00 Special IBOA Price: plus £5.00 booking fee Normal Price: £57.00 7.30pm Odyssey Arena Belfast Wednesday September 26 E Special IBOA Price:

A • O • B • I 65.00

SO E 5.00 booking fee E

IAL 78.00 onastrictly first– come, first on to the Union websites. 00-2980-200130or by logging phoning 00-353-1-4755908 or mentin IBOA House by tele- theSports and Social Depart- tickets forshouldmadewithbe Requests basis. served and in Belfast’s Odysseyforthe shows ArenainDublin’s O2 specialdiscounta ticketson material from popthe up-tempo 2000s. recent more the to 1980s the ofclassics through the memorableearly soulful days of the Commodores, the from songsrepertoire of drawfrom his very extensive exuberant which shows live appointed with Lionel Richie’s organisation. entertainment major every of other awards from host virtually received a also has He an Oscar for Best Original Score.

IBOAis offering members Audiences rarely are dis- IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE www.iboa.org.uk www.iboa.ie IBOA THE FINANCE UNION FINANCE THE IBOA

july 2012 SPECTRUM 39 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 40

IBOA THE FINANCE UNION www.iboa.ie www SPECTRUM yourself! believe in trying and thing. Keep fail at every- you're gonna doesn't mean you fail once, Just because Marilyn Monroe former Irish Nationwide staff. IrishBank Resolution Corporation moves to address along-standing issue for LEGACY FROMTHEDARKAGES Defined Benefit pension scheme and toIBOA extendhas rejected theproposals currentfrom AIB'spay senior freezemanagement for ordinaryto close down its FURTHER SACRIFICES FROM STAFF AIB’S BRAVE NEW WORLD REQUIRES staff until the end of 2014. workdirect july 2012 july See Page 43-44 See Page 42 after the restructure. the staff who will remainprotect with pay,the terms Bank and conditions forAIB staff meet to develop campaign to STAY INAIB FAIR DEALTO Ireland under new CEO Elvindthe Kolding. strength of Danske’snetworkhave raised commitmentconcerns about to down National Irish Bank’sProposals retail from Danske branch Bank to RAISEclose FEARS NIB CLOSURES the damage. mentsuspend restructure to assess RBS IT foul-up, Ulster Bank manage- apologises to Ulster Bank staff Hampton, Philip RBS Sir Chair,forAs the SORRY ULSTER SAYS See Page 46-47 See Page 44 See Page 45 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Banking on the future Framework for change agreed at Bank of Ireland

he Union’s Bank of Parting on good “Management has also “Any employees affected Ireland negotiating team terms: The full terms of given a commitment that all by change will be managed hasT engaged in a series of the Change Management existing agreements with the within the key principles meetings with Bank of Ireland Agreement – including the Union will be honoured. detailed in the Re-deployment, Group senior management provisions for redundancy “There will be no change Relocation and Change Trans- following the acceptance of and early leaving – are to terms and conditions of ferability Agreement previously new Change Management available on the IBOA web- employment without advance negotiated by IBOA,” added Agree ment by a clear majority sites at www.iboa ie/bank- notice and negotiation with David Keane. in a recent ballot of IBOA of-ireland/ or www.iboa. IBOA. Severance terms within org.uk/bank-of-ireland/.

members in Bank of Ireland “Any reduction in staff this agreement are available to www.iboa.org.uk Group. Members will need their numbers will be managed on a eligible staff, who are being “This agreement will form IBOA membership num- voluntary basis,” he said. invited to apply as the Bank the foundation for the conduct ber to access these “The Bank has also com- carries out a phased restruc- of industrial relations within pages. The number is mitted to engage with IBOA on ture of its business. the Bank,” said IBOA Senior displayed on the IBOA all aspects of reward, with a A number of applications Industrial Relations Officer, membership card. It is also view to reaching an agreement are to be sought from each Gerry Hanna. listed on the Spectrum when the Bank returns to prof- region and business unit and As well as finally securing address label. itability,” added IBOA Bank of will be managed by the Bank agreement on the parting terms Ireland Officer, David Keane. over a period of time. for staff who opt to leave the Bank voluntarily, IBOA members www.iboa.ie have endorsed an agreement Protracted process of engagement which in the current economic climate, includes significant IBOA has attempted to agree a Change Management Agreement with Bank of Ireland provisions such as: Group since the Bank first introduced its EU Viability Plan in 2009. • job security; The first, brokered by independent mediator, Mark Connaughton, was agreed in • protection of terms and July 2010 and allowed the Bank to restructure its business in line with its EU Viability conditions of employment; Plan while protecting staff who were affected by this restructuring in Great Britain and • an agreed process to man- Northern Ireland. age change; and In April 2011, when the Bank tried to implement this agreement in the Republic of • a commitment to honour Ireland, it was blocked by the Republic’s Department of Finance. So IBOA re-engaged existing agreements between immediately with the Bank’s senior management and with Mr. Connaughton – with IBOA and Bank of Ireland the result that revised terms were finalised in September 2011. management. When the Department of Finance again refused to endorse these new terms, the “Under the new deal between Bank was unable to honour its agreement with IBOA. When the Bank attempted to roll IBOA and the Bank, all change out its change programme without agreement, IBOA withheld co-operation until a new will be negotiated with IBOA,” round of negotiations was held – leading to a final agreement which was ratified in a ballot of members. said Gerry Hanna. UNION FINANCE THE IBOA

july 2012 SPECTRUM 41 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 42

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk ae en ey el re-ceived by well members. very been have full refund payment which – and2009, IBRC has made a sionschemebetween 1991 Defined Contribution pen- Nationwide Building Societypaid charges by members commission of the theIrish A pension anomaly standing INBS to settle long- refund payment IBRC makes full Error? of an End SPECTRUM

If there is a change in your employment circumstances like – moving onto part-time hours or changing to job-sharing, you may be entitled to avail of a lower subscription rate. The current membership categories and rates are published on the IBOA websites Please make sure you inform IBOA Head Office of anyat changewww.iboa.ie/join/subscriptions.html and www.iboa.org.uk/join/subscriptions.html. any overpayments. so that your subscription rate can be adjusted and you – receive prompt refund of Pleasenote that the rebate for any overpayments will be capped at the amount overpaid for the

Youcan check your personal profile online in the My IBOA Section of the Union

websitesandmake anynecessary amendmentsyou orcan contact thethere – Membership Department • IBOA The Finance UnionMembership • IBOA House Department • Stephen in Head Office at the address below.

StreetUpper •Dublin 8•Tel: (00353)-1-4755908 or (0044)-2890-200130 • E-mail: [email protected] intense discussions on tr eea mnh of months severalfter

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o a n h n o ) t e a n f y e e . - f f l l termsofMr.Fingleton’s own Michael Fingleton. managementregime, led previous by Chief Executive,the 2010 following – the demise of who joined members IBOA in the 2009 and by identified of a number of major one Nationwide was (INBS)concerns staffpension scheme inIrish

hl te ey generous very theWhile Theadministration ofthe

as soon as possible their decision to join IBOA. yetanotheras vindication of INBS former the in worked who members by received well very been has IBRC by the pensions “anomaly.” IBOA again raised the issue of andmany former INBS staff – took (IBRC) over the INBS Corporation business – lution mlye h jie the scheme. joined who employee of euro were – charged to each some cases to many thousands amountingcommissionsin – separate result that thewith taking out personal Society the pensions customers of to – suchas might have been sold numberof individual plans – a developed as wasscheme INBS the basis, group a on scheme which is administereda standard employee pension on the members of the ratherunusual chargesscheme.leviedwere some but – nest-egg oftheformer CEO’s personal to less than a quarterfund of they the are sizeto share amount were not so fortunate. employees INBS the of rest notoriety, publiccertain the pensionhavepotachieved a

Rather than being treated as The refund payment made When the Irish Bank Reso- Notonly does the pension IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Hare-brained?: AIB management proposes pay freeze, withdrawal of benefits and closure of Defined Benefit pension scheme. IBOA slams AIB proposals on pensions, pay and benefits www.iboa.org.uk

BOA has rejected proposals savings for the Bank – but would that a tiny minority of selected from AIB's senior manage- have a significant impact on the staff have received top-up mentI to close down its Defined retirement income of many awards known as retention Benefit pension scheme and to ordinary bank officials,” he said. payments and that the Bank has extend the current pay freeze “It would be particularly also engaged an army of con- for ordinary staff until the end distressing for staff who have sultants costing many millions,” recently agreed to major changes he said. of 2014.

in the scheme involving reduced “If implemented, the Bank’s www.iboa.ie Union General Secretary, benefits and increased con- latest proposals would further Larry Broderick, said that the tri-butions. erode our members’ living Bank’s attempt to further under- “As for the proposal to freeze standards at a time when AIB mine the overall remuneration pay until the end of 2014, our staff are being asked to make of its ordinary staff was totally members throughout AIB Group even more sacrifices in the most unacceptable – in view of the have already endured a pay freeze far-reaching restructure in the substantial savings AIB had Larry Broderick: AIB since 2009. Indeed some of our Bank's history. already made on staff costs management needs to members have even been denied “Around 2,000 men and through the reduction in staff rethink its approach to contractual payments – such as women have already left AIB numbers that had already taken staff remuneration (Photo: increments and performance since 2008 as a result of the place since 2008 and with even Tommy Clancy). awards – and unlawfully so, in non-replacement of retiring more savings anticipated in the view of recent industrial employees and the non-renewal future through the implement- tribunals in London and Belfast. of contracts for temporary staff. ation of a major restructuring “At the same time, it has The Bank has also recently programme. been revealed that senior announced its intention to seek “The move on the Defined executives in AIB Group have a further 2,500 job reductions Benefit pension scheme would been in receipt of substantial over the next two years.

produce relatively modest cost bonuses during this period, ⁄ UNION FINANCE THE IBOA

july 2012 SPECTRUM 43 SHORT STORIES NEWS REVIEW SPECIAL FOCUS IBOA NEWS

‘Fair deal to stay’ campaign under way

he Union’s Fair Deal to Stay campaign in AIB has begunT to gather momentum in recent weeks – with meetings of members and activists – either taking place or planned in all three jurisdictions. Around 250 IBOA members “In case we forget, all of Fair Deal to Stay: share-holder, on the need to in First Trust Bank met in these extraordinary measures AIB members and IBOA engage meaningfully with the Belfast earlier this month – have been necessary because of staff – led by the Union’s Union on a fair deal to stay for following an earlier meeting of the reckless mismanagement of General Secretary, Larry those staff who will be essential activists. the Bank by its former senior Broderick – demonstrate to the future capacity of the Bank The mood of the meeting executives,” the IBOA leader for a Fair Deal to Stay to meet the very daunting was determined as speaker www.iboa.org.uk declared. at the AIB Group AGM challenges that lie ahead if AIB after speaker condemned the “It is unacceptable that the at Bankcentre in Dublin Group is to recover.“ proposed changes to pensions, Bank should ask those staff “An enlightened management earlier this month. pay and benefits announced who will remain with the Bank would recognise the importance – and on whose shoulders the of motivating staff in a positive by the Chief Executive in June. recovery of AIB ultimately fashion to restore AIB to sound Similar sentiments were depends – to contemplate even financial health in the interests expressed in further meetings more sacrifices at this time.” of all its stakeholders. of AIB (GB) members – held “An enlightened majority in London, Manchester and INDICATIVE BALLOT shareholder – the Irish State – Birmingham last week. An indicative ballot of AIB would also see the value in such Additional meetings are planned for locations in the www.iboa.ie members taken in the wake an approach for the public good. of Mr. Duffy’s announcement, “AIB’s Chief Executive, David Republic of Ireland. revealed that Union members Duffy, has committed to engage are virtually unanimous in their with IBOA on these and other For the latest news rejection of the Bank’s cuts plan. issues – including the Bank's An overwhelming majority future plans. IBOA is prepared on workplace would be prepared to join in to enter these talks in an effort to developments, litigation to prevent the imple- ensure that our members’ con- mentation of the proposals while cerns are fully understood. for special member a substantial majority have said “However, we believe AIB’s offers and they would be prepared to take senior management must recon- discounts and industrial action if the Bank sider its position – taking due attempts to impose the changes account of the major contribution for details without proper negotiation and its staff have already made. Such of sports and agreement with the Union. a rethink by the Bank would “This result should provide be in the best interests of all of social events, a wake up call for AIB’s senior AIB’s stake-holders, including see www.iboa.ie or management and for the Irish its customers,” Larry Broderick www.iboa.co.uk

IBOA THE FINANCE UNION FINANCE THE IBOA Government, AIB’s predominant declared.

44 SPECTRUM july 2012 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Patience under intense pressure Committed Ulster Bank staff win praise from RBS chair and, more importantly, customers!

n a crisis meeting in Belfast with IBOA’s Ulster Bank Sign of the Times: customers appear to have been Executive Committee, the Chairman of RBS, Sir Philip Hamp- Ulster Bank notice advises very appreciative of the staff’s tonI apologised to staff and customers for the major problems customers of the nearest commitment and courtesy in faced by Ulster Bank arising from the RBS technical problems – attempting to address their

branch opening late in www.iboa.org.uk and fully acknowledged the tremendous support given by staff Dublin. (Photo: Sam Boal/ concerns. at the Bank at this crucial time. Photocall Ireland). In all of the vox pops con- IBOA’s Ulster Bank team Steve Daniels, and members of ducted by the media to date, told Sir Philip of their fears for its senior management team, to customers have drawn a clear the potential reputational dam- discuss a range of operational distinction between the response age to the Bank as a result of the issues which had faced IBOA from the frontline staff and that RBS IT crisis. They explained members in Ulster Bank in of the Bank’s management – that Ulster Bank staff, as well as their crisis. especially in terms of the quality customers, would need reassur- Aside from ensuring that and timeliness of its communi- ing about the strength of RBS’s overtime working would operate cations with the public.

commitment to Ulster Bank and on a voluntary basis and that www.iboa.ie Ireland in the future. appropriate overtime allowances Restructure Talks The Union team also urged would be paid, members were The negotiations on the Bank’s the RBS Board to review the also concerned about the possi- plans for a major restructuring of planned restructuring of Ulster ble adverse consequences of the business – which have been Bank in light of these develop- abandoning sales targets and Chairman of RBS: continuing since the acceptance ments. other performance criteria in Sir Philip Hampton of the recommendations of the In response, Sir Philip com- order to focus on the immediate independent mediator, Martin mitted RBS to continuing needs of customers. King – were suspended once the support for Ulster Bank, north However, the Bank’s senior crisis began. and south, and agreed that RBS management has assured the When the talks resume, the would review all aspects of the Union that the suspension of Union team will seek a complete incident and its impact to ensure targets necessitated by the crisis review of the senior manage- that Ulster Bank is not affected would not result in any negative ment’s plan in light of the need again in the future. consequences for staff. to rebuild the Bank’s reputation After the Chairman's re- Although Ulster Bank staff with its customers and with the assurances, a separate meeting have occasionally had to deal general public in the wake of the took place with Ulster Bank’s with customers who were unprecedented developments of

Head of Human Resources, deeply distressed, the majority of recent weeks. UNION FINANCE THE IBOA

july 2012 SPECTRUM 45 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 46

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk to IBOA. Republic of Ireland, according100job losses throughout the would result in a minimumretail of branch network which – SPECTRUM N posed changes on customers. theimpact ofthe Bank’s pro- haveserious questions about NationalalsoIrishBank,we concern is for our members in and its staff is disingenuous. scapegoat effectively the branch to network decision “the of the Bank in theresult past,”ofthe mismanagement he said, a seriously compromised as of National Irish Bank has been staff and their forfamilies. implications huge have would network branch the proposed the closurethat of thestaff – IBOA leader warned especiallyIrishBank for– its dayin the history of National its restructuring in Ireland.” theBank’s announcement on sequentlymade at the time of Bankas late as May and sub- commitments given by the varianceDanske with“totally at management’s proposals are LarryBroderick said the new June, Union General Secretary,announcementof endthe at

Describing it as the blackest

Wie BAs primary IBOA’s “While “While the financial position RespondingthetoBank’s For the latest news on special offers review its plan to close its ational Irish Bank should and discounts for IBOA members, Sweet deals deals Sweet Sweet deals deals Sweet check out the Union websites: www.iboa.co.uk/my/services from IBOA from www.iboa.ie/my/services or from IBOA from july 2012 july National Irish Bank Black day for staff in close branch network Union appalled by plans to Shutting up shop? Radical surgery proposed for National Irish Bank (Photo: Photocall-Ireland). clearlyhowdangerous itcan havealso demonstrated quite in the financial services sector redirected customers with to An Post instead. – branches handlingfacilities fromtheir withdrawn cheque and cash National Irish consider thatBank you when ing had already net. byphone andover theinter- customers are now conducted 70%of their interactions with banking environment. now favours a more high tech ing customer demand which – surgery as a response isto attemptingchang- to sell this radical

“They least that tell at us “Recentevents elsewhere “But that is hardly surpris- “TheBank’s management contact with personalcustomers. throughreputation elements of the Bank’ssalvageleastsomeableto at battered been have who employees dedicated highly by staffed – network ahas branches of basket. be to put all your eggs in the IT on the IBOA websites. thefrom talks will be covered Gerry Hanna. Industrial Relations Officer, Senior by led – teamIBOA National IrishtheBankand have just commenced betweenAs we go to press negotiations

l developments All arising “Fortunately Bank Ulster ⁄ IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Northern Bank talks on restructure stall

alks on the proposed restructure of both Northern Bank and National Irish Danske Bank's two Irish businesses – Bank to discuss the Danske Bank proposal NorthernT Bank and National Irish Bank for the two banks and to highlight a range (NIB) – under a unified Danske Bank of key concerns raised by members about brand have been put on the back burner its possible impact. for a while following the dramatic NIB In the Northern Bank talks IBOA had Danske CEO, Eivind Kolding announcement about the proposed closure received assured that would continue to of its branch network. manage change in line with the existing “The business model being Before the announcement was made, agreements with the Union which provide proposed for National Irish IBOA’s Danske Group team had begun to for job security and redeployment for Bank by Danske is highly engage with senior representatives from affected staff. questionable since it would inevitably minimise the crucial role of branch staff in building and maintaining relationships with customers.” Expressing further concern about the Bank’s long-term intentions for many of the jobs that would remain, Larry Broderick said that on the basis of developments in National Irish Bank since 2008, the trend appears to be leading towards a gradual wind-down of the Bank – with remaining

customers effectively serviced www.iboa.org.uk from Northern Bank. “The plan to rebadge the two institutions under the Danske Bank brand appears to be a rather expensive exercise to disguise this fact. IBOA has sought an urgent meeting with Danske Bank’s Chief Executive, Eivind Kold- ing. The Union also intends to

meet Ulrik Nødgaard, Director www.iboa.ie General of Finanstilsynet, the Danish Financial Services Authority, since National Irish Bank is legally a branch of Danske Bank. The Union has written to the Taoiseach, the Tanaiste and the Minister for Finance, since this development high- Great savings and offers for IBOA members in Great Britain lights, once again the need for a comprehensive job strategy and Northern Ireland from Thomas Cook – for the financial services sector in the wake of substantial job including a 6% discount on thousands of holidays. losses proposed earlier this Check the Members Only Section of year in Ulster Bank, AIB and Bank of Ireland. the IBOA websites for more information.

S UNION FINANCE THE IBOA

july 2012 SPECTRUM 47 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 48

IBOA THE FINANCE UNION www.iboa.ie www.ib SPECTRUM Give a girl the right shoes, and she can conquer the world. Marilyn Monroe

of Olympic glorystyle and then – thinks better of IBOAit! memberand self-confessed couch potato, David Lemon, dreams BRIGHTLY FOR A FEW – SECONDS! THE OLYMPIC FLAME BURNS direct july 2012 july for IBOA members, log on to: members only! For more information on and Special the latest special offers Discounts www.iboa.org.uk/my/ otherservices.html or Exclusive otherservices.html for IBOA www.iboa.ie/my/ Offers town. Santry, Tallaght, Terenure Tyrrels Phibsboro, and Ongar, Street,- O’Connell Street, Henry Cross, Harold’s Street, Grafton Finglas, Crumlin, Coolock, * AND NEWBRIDGE NAVAN MAY NOOTH,GOREY, CORK, DROGHEDA, DUBLIN,* DUNDALK, ATHICKEY’S PHARMACIES INARKLOW, 10% discount for (excluding medicines and prescriptions) IBOA members on all products See Page 51-52 HICKEY’S PHARMACIES month after all their bills are paid.public are left with Around1,820,000 people intheRe- THAN DEBT FATE WORSE E 100or less each See Page 53 IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

From inauspicious beginnings, her career in Hollywood fascinated global audiences – as well as an All-American sports star and an allegedly “un-American” playwright. She is reputed to have been courted by attractive actors and potent politicians. Her tragic death fifty years ago in August 1962 has not only given rise to numerous theories about her final hours – but also served to confirm her status as an international icon that has inspired writers, musicians and artists.

n June 1926 Norma Jeane Morten- son was born in the charity ward at theI Los Angeles County Hospital. Her mother, Gladys Monroe Baker, had separated from Martin Mortenson before she became pregnant and divorced him after she gave birth. Gladys then changed Norma Jeane’s surname to Baker, the name of her first husband. However, Gladys’ mental ill- health meant that the child was passed around to family members and friends Marilyn: www.iboa.org.uk and even orphanages on occasions. To avoid another orphanage stay a family friend orchestrated a marriage Behind the icon proposal when Norma Jeane was sixteen. When her husband, Jim Dougherty, was studio was printed in newspapers objected strenuously to the famous skirt- sent to the Pacific with the merchant ma- throughout the United States, reports of blowing scene. rine, Norma Jeane began working on an a romance with the Yankee Clipper led Becoming increasingly concerned assembly line at an aeronautical plant. to further public interest in Monroe. that she was being typecast as a “dumb In 1945 a photographer took a snap- In 1953, she played the leading role blonde,” Munroe was determined to shot of the stunning brunette at the as a femme fatale plotting to murder her broaden her range. “I want to grow and

factory and encouraged her to husband (Joseph Cotten) develop and play serious dramatic www.iboa.ie apply to the Blue Book Modelling in Niagara, a melo- parts. My dramatic coach, Natasha Agency. After being told that they dramatic film noir. Lytess, tells everybody that I have were looking for models with As audiences became a great soul, but so far nobody's lighter hair, Norma Jeane dyed her ever more captivated by interested in it,” she told the New hair golden blonde and quickly the appeal of the breathy, York Times. became one of the agency’s most blonde bombshell, her Nevertheless she began to successful models. growing talent for light hone her craft at the Actors’ A screen test and contract with Studio in New York under the Joe DiMaggio comedy was apparent in Arthur Miller 20th Century Fox followed along How To Marry A Million- direction of Lee Strasberg who with a new name: Marilyn Monroe. aire, Gentlemen Prefer Blondes and The later praised Monroe and Marlon Brando While her early film roles were Seven-Year Itch. as the two students out of “hundreds and minor, her performances in The Asphalt The latter film, or more accurately hundreds” that stood out above the rest. Jungle and All About Eve in 1950 began one particular scene in it, is reputed to Monroe achieved critical acclaim for to cause a stir – not least with baseball have sparked the end of her marriage to her role as Chérie in Bus Stop, released in hero, Joltin’ Joe DiMaggio, whom she Joe DiMaggio after nine months. 1956. The film, her co-star, Don Murray, began dating at this time. After tying the knot in January 1954, and Monroe, herself, all received Golden When a photograph of DiMaggio Monroe sued for divorce on the grounds Globe nominations. ⁄ visiting Monroe at the 20th Century Fox of mental cruelty when Joe DiMaggio UNION FINANCE THE IBOA

july 2012 SPECTRUM 49 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 50

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk at just– about the time Miller was called Productions, she releasedproduction company, Marilyn Monroe munist affiliations. totheexplain 1950s – his alleged com- gress,like many in the film industry in Con- USActivities the Committee in to appear before the House Un-American Arthur Miller, was becominggrowing relationship playwright, with more public SPECTRUM comedy, acting nomination in the process.LaurenceOlivier and earning aBAFTA theShowgirl that few retain past early adolescence.”liftedby alyrical and poetic sensitivity mystery, street-tough one moment,light then to me then, all Monroe,paradox andMiller enticing wrote: “She was a whirlingmarried in June 1956. hysteria around their relationship and ment – in – part, it seems,immediately announcedto their engage- quell the media which resulted in a fatality. couplebycar, was involved incrasha glass,” a reporter, who was pursuingbetween“The Egghead relationship the and The theHour- about excited more career her at putrisk thanfrom rather Millerthe abandon negative to publicity. bosses studio from pleasrejected time,sameMonroeappeal.theon At tempt butof Congresslater acquitted – acquaintance, his he of communists was identify charged to order with con- Asthe street-tough head of her own When Miller refused the Committee’s In 1956, as the pressthebecame1956,asever In

that Marilyn would come to see Ella whenever she sang there. Jazzsinger, Ella Fitzgerald, took amajor step to stardom when sponsors. Albert Schweitzer amongBrando, itsHenry moreFonda, Harryprominent BelafonteNuclearPolicy, whichand also listed Marlon campaign, led by the Committee for a SANE strongly with the workers.” blacks,rights for the poor. She identified “passionateabout equal rights for rights, ofMonroe’s last psychiatrist, Marilyn Accordingwas to Joan Greenson, the daughter times. And she didn’t know it.” clubagain. She was littlean aunusual ahead woman ofher – to book the first blackMonroe artist persuaded to perform the owner at ofthe the venueMocambo withClub inthe Hollywood promise Monroe also supported the anti-nuclear “After that,” Fitzgerald recalled, “I never had to play a small jazz During the filming of In1958, she made the Billy Wilder Reflectinglater onhisattraction to Deeply distressed, Monroe and Miller Marilyn the Activist oe ie t Hot, It LikeSome n15 starringin1957 – opposite Marilyn and Ella Bus Stop, The Prince and july 2012 july ih Jack with Monroe’s Actor (Musical or Comedy)(Musical for orLemmon) Comedy) Picturefor Monroe (Musical and Bestorwell Comedy),asGolden Globes for Best Motion Best ActressincludingBest Director as for Wilder – a critical and popular success.release in 1959, theCatholic itsLegion on Decency) of the National Legion of receivedDecencya‘C’ (Condemned)(formerly rating from Lemmonand Tony Curtis. Although it she returned to NevadaMonroe to finishhad toshooting. beplayers aparthospitalisedfromWallach. Although fordogged tenby illnesses days,to all of the leading was Thelma film Ritter, and theClift ClarkGable, Eli Wallach, Montgomery JohncastHustonincludingbywitha The Misfits. to become Monroe’s last completedsome of thefilm, locals. By 1960Arthur Miller the wrote storyashort story was about film of all time.” in 2000 as “the greatestwas listed American by the Americancomedybestfilms ever made, Film Institute 1960their marriage was beyond repair. wife,but by the time filming started in wasmeant to be aValentine gift for his Withinten days ofcompleting the film, Subsequently acclaimed as one of the

h fl wn se o Ocr – Oscars of slew a won film The Miller’s screenplay for During a short stay in Nevada in 1956, Directed on location in Nevada Some Like It Hot SomeLike ItHot h MisfitsThe was both . by the American Film Institute.the sixth greatest female star• of all time negotiations on future film projects, asherlife, wellMonroe had asdiscussions continuingabout a $0.5m law suit from 20thof Century 35 days,Fox. Monroe wascould fired only reportand hitfor withwork Charisse.on twelve Asout health issues co-starringand Cyd Martin Dean and meant that she GottoGive, returned to California to convalesce.proceduresJune,MonroeandMay in February.inminorsurgical Aftertwo voluntarilyentered apsychiatric clinic from Miller finaliseding intoll onJanuary her health. With 1961,her divorce she scription drugs began to takegrowing an increas- dependence on alcohol and pre- be regarded as a classic.film critics and the filmandClift came tobeadmired hasby since many come totually the performances Guildnomination Directors’ of Gable, for athe film.Monroe received However, Huston even- was not a commercial success although – been entirely ruled out. overdose or even – homicide have not – suicide,” the possibility of an accidentalThough officially classified asnewhome “probablein Brentwood, Los Angeles. controversialin circumstances her at overdose of barbiturates in Augustfruition 1962 as Marilyn Monroe died from an Gable had suffered a thefatalcouple had heartdecided toseparateattack. and In 1962, she began filming Opening to mixed reviews, n h esig ots Monroe’s months, ensuing the In In what were to be the final weeks of oee, oe f hs cm to came these of none However, In 1999, Marilyn Monroe was rated directedbyGeorge Cukor, Something's Got to Give. Something's The Misfits S IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

skills, apart from tying your shoelaces, which I had mastered some time ago. It also had the advantage of fewer witnesses being present when the unpleasant side effects of your exertions are most evident – when you’re puking! So, having decided on jog- ging I immediately sprang into action, insofar as a couch potato can spring, and donned my track suit and trainers which – though lying idle for around twenty years – remained stylish and fashionable. Track suits hide a multitude of sins and unseemly bulges and as I glanced in the mirror I told myself I didn’t look too bad. “Are you going out in that ridiculous headband? You’ll look like a complete prat,” remarked my wife, once again displaying that trait for being oblivious to any sensitivities that may exist. I did a few stretching exer- cises, which I had learned from watching the Olympics on tele- vision. See, not all couch potato activity is wasted! Feeling suitably stretched the time had arrived for me to venture out on to the normally empty streets. They weren’t empty today, Olympic torch-ure! of course, as all the neighbours were out in force, mending fences, mowing lawns, repairing t was a throw-away remark from my wife (“look at the gut on ye, ya big puddin’ ye”) cars and unintentionally offering Ithat prompted me to consider a lifestyle change. Perhaps a take-away remark would be a me encouragement. more accurate way of putting it though. Should I abandon, or at least put on hold, my career Their collective guffaws of as a couch potato, which up until now has been a spectacular success? laughter ensured I set off at a A position as Chairman – or However, I figured that a IBOA member cracking pace, which I kept up rather comfy chair man – of Slob balding, red-faced, pot-bellied, for all of a hundred yards until Leisure Pursuits Plc was surely middle-aged tub of lard strug- and self- I was round the comer and out just around the comer. gling with a chest press would of sight. I slowed to a gentle jog Nevertheless, any number of soon become an object of confessed and after another fifty yards people have changed career at a derision. developed a stitch. late stage in their lives so there So in view of the potential for couch potato, I slowed to a crawl and after was no logical reason why I embarrassment, and of course several more paces I ‘hit the couldn’t do likewise. the fact that the gym would David Lemon, wall.’ This is where the body Any amount of physical probably slim down my wallet dreams of sends a message to the brain to reasons why I couldn’t, mind you, at a much faster rate than my the effect: “Catch yourself on. but I cast aside such defeatist belly, I rejected this option. Olympic I can’t take any more and if notions. Perhaps with a few Swimming was a possibility you keep moving, never mind sessions in the gym I could acquire but a natural aversion to water, glory – and running, I’m just going to a six pack stomach to replace the finely honed during my teenage collapse in a heap.” current beer keg variety. years, and the reduced opport- then thinks All athletes ‘hit the wall’ at This option was somewhat unities for breathing when you’re some stage in a race – though alluring; what man wouldn’t be at the knackered stage quickly better of it! usually it is after 18 miles not attracted by the prospect of rendered this a non-starter. 180 yards! It is then a case of being surrounded by leotard- Several films and packets of ‘mind over matter,’ when the clad, lithe young women work- crisps later I decided that jogging athlete summons up all his inner ing out to the pounding beat of was the answer; it didn’t cost any- strength to keep going. Beyonce? thing, or require any particular ⁄ HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 52

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk oet te lawnmower man theRobert, 3mph,over the last fifty yards. street,andsprinted, almostat too much out of me. takingvigorous not effort was this that neighbourscynical my all a impress with and flourish finish to reserve in run I made sure to keep enough me with loitering. Load” Mov sign “Slow on amy back slap orwould charge thatanymomentat thepol manfully, fear onplodded 2mph. eased so I increased my costspeedgettingof there. Mysti wouldoutweigh the short-te fitn and health to journey that the long-term benefits of watching myselfthat this was better th swea having timea hard theconvincin asstreamed into myeyes. waI going was wife,I could hardly wher see gling for breath and, thanksarms and tolegs ached. I was str up to an energetic stroll. I walked for a bit, then stepp off. I decided to hang inthan there two minutes after I homehadpast the neighbours b l limping of alternative SPECTRUM

• Free 15 minute Assessment • Preferred Appointment Times • On production of their Union card, IBOA members21 clinics are alreadyentitled in to: operation across Cork,The PhysioWaterford, Company Galway is a& growingDublin. chartered physiotherapy company with I turned the corner into our nearedtheofIendthe As minute 15 next the For But I kept going in the be My heart was pounding, What kept me going h was E 10 discount on treatment charges Match of the Day. july 2012 july anything about it. out, unable to do tongue hanging I lay there with my lick my face while which proceeded to attracting the dog, from every pore, Sweat flowed while I lay there with whichmy tongue proceeded to lick every pore,my attracting dog, theface mote control. Sweat flowedandstaring longingly from at the re- thesofa, gasping andgroaning dangling from slabbers themy chin. and lips my on game away was the white froththat the only thing that gavedoor,nextfromlatermetold the

Once inside, I flopped on to ngout, unable to do any- h that Olympic medal. my chips,” I suggested. stopcanyouputting gravyon for my liking. “I’ll tell you what,It felt a bit too much like buckledjogging and I broke into a sweat. somewhat malevolently,stopdrinking beer,” shesaid – I thought.my beer gut. “You could always another solution to getting toldrid havemy wifetofind of we’d through the day and that night I and a tortoise with a dodgylike hip. a cross betweengetabout if JohnIstumbled around Wayne thequestion couldandIonly tyingmyshoelaces was out of Every muscle in my bodymyself ached,I would never run again. more tips. visionand might provide afew way the Olympics were on tele- tooverdo these things and any- aday or two, as you don’t want promisedmyself another jog in magnetism. down to my newly foundmen’s animal medal the at ceremony women many so were so I put there why it to as dream thein record to boot. The day after that I promised

just been presented with

me. oldmedal for winning the eputation as anything else, tterly exhausted. metres and set a new world Withinhalf an hour I could Looks like I’ll have to pass on Myheart pounded, my legs SomehowImanaged to get Thenext day Ifelt fine and explanation no wasThere began toshrivel up, dried lp te le o the of sleep the slept a painfulstrugglea the up decided to waive my con- warm embraces after I had of the righteousness, finely was asleep in 9.4 seconds, eousand dreamed ofgold rights, as much to protect I climbedI outjustmy as about it. within Olympic qualify- ed from the podium, where lf off and clamberedandofflf into I a i a steaming hot a in lay I , ls, cheering crowds and, in e fml athletes from femaleted r Erp. imagined I Europe. ern again andhouranlater, S IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

Levels of personal debt reaching alarming levels

E

round 1,820,000 people in the portion rely on financial help from is followed by car fuel ( 145 per month), www.iboa.org.uk Republic are left with E100 or family and friends, 30% use the credit daily lunches (E110 per month) and lessA each month after all their bills are union, 10% rely on their bank and public transport (E77 per month). paid. 10% on moneylenders. Commenting on the latest ‘What’s Half of bank account holders (50%) Expressing alarm at the role of Left’ Tracker, Kieron Brennan added: are unaware of what their bank charges moneylenders. ILCU Chief Executive, “The issue of personal debt is some- to operate their current account while Kieron Brennan, said: “The ILCU thing we are hearing more and more 54% of current account holders have recently called on the Government about and the issue is a growing con- no idea what penalties they pay when to put a legal cap on the interest cern, particularly for those who are re- their account goes overdrawn. rates charged by moneylenders in lying on their credit card to make ends These are some of the startling Ireland. meet every month.

results from a survey published earlier “No such cap currently exists but “For consumers in general, it has www.iboa.ie this month by the Irish League of in practice, the ceiling is just below never been more important that they Credit Unions (ILCU). 190% APR. With the level of personal really begin to get into the practice of The ‘What's Left’ tracker survey indebtedness and financial exclusion managing their money very tightly. also found that Irish consumers owe on in Ireland, there is a real danger of Keeping finances on track is a mix of average E1,100 on their credit card – compounding the problem by allow- being diligent and shopping around for with 25% of credit card holders relying ing legal moneylenders to charge the best value.” on their card to make ends meet each excessive rates.” The credit union smartphone month. Mortgage and rent continue to be budgeting app, MyBudgetBuddy, is The report also revealed that 46% the most expensive bills for the major- an easy-to-use budgeting application of those with a credit card do not know ity of Irish adults (72%). Groceries that helps you understand and manage the interest rate charged on their card. remain in second place (57%). Utility your income and expenses and is bills remain in third position (54%). available to download from the Moneylenders Android market and iTunes. The ILCU survey also found 40% of Work Related Expenses For those who do not have smart consumers have had to borrow to pay Child care comes in as the greatest phones, the ILCU has useful tips and their household bills in the past 12 work-related expense at E520 per month information available for download on

months. Of this group, the largest pro- on average (for those with children), this www.creditunion.ie/whatweoffer. UNION FINANCE THE IBOA

july 2012 SPECTRUM 53 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 54

IBOA THE FINANCE UNION www.iboa.ie SPECTRUM people. and little turn into dull movie idols listening to my party for hours silent at a I've often stood Marilyn Monroe of a cartoon princess? breaker or is she simply a isrefreshingcausing a stir amongchange the chatterati from thein America. saccharin-sweetThe Is charactershe really a genderstereotype ofmould- the feisty Scottish princess, Merida,IN AN in ANIMATED the new FEATURE Pixar movie,FILM? IS THIS THE FIRST LESBIAN HEROINE E forcash prizes ranging from sudoku. Meet the challenge and enter the crossword, the picture board and Take a break with our prize quizzes – PRIZE QUIZZES leisuredirect 50. july 2012 july See Page 60-61 E 30to Higgs boson has been identified. even stiffer challenge for the team behindfindsout thewhy SpainLarge still Hadronhas asoft spotCollider for Anglo nowIrish thatBank. Herealises And the he offers why an RBS reminds him so much of amotley band of Invigilantes. this issue,He Malone discovers a new candidate to take over as CEO inULTRA Barclays. VIOLET See Page 57 Brave, with Stephen Malone aspire to, asks George Hamilton. or is qualification the most 2012.we canAre there everlessons to be learned Irish soccer licks its wounds after Euro George Hamilton GAME TIME See Pages 58-59 See Page 62-63 with IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE STONE CRAZY

hrough their long and company, the Interview People wild career, the Rolling (www.theinterviewpeople.com). StonesT have made an indelible “It’s not only a journey mark on popular culture; from through 50 years of the Rolling epic albums to notoriously Stones,” says publisher Matthias bad behaviour. Würfl, “but also the history Over their 50-year history, and evolution of music, press journalists have collected a and western society of the last treasure trove of material, but half century” none more prolific than music The author, Hanspeter journalist, Hanspeter Kuenzler. Kuenzler, has interviewed top A new e-book, 50 Years: music stars including Paul The Rolling Stones – Views from McCartney, Ringo Starr, Tina the Inside, Views from the Out- Turner, Robert Plant, Mark From Jack Flash to Jack Sparrow: Rolling Stones guitarist and side, is a massive two-part col- Knopfler, Blur, Oasis and vocalist, Keith Richards, performing with the Expensive Winos at the Radiohead. lection of the best journalistic Aragone Ballroom in Chicago, Illinois in 1987 (Photo: Getty Images). material spanning the band’s The recommended retail career. Previously unreleased interviews, price for the e-book is $14.99 – It includes feature articles but is likely to be available on from Rolling Stone magazine articles and more published in Amazon for less. It is being Britain’s Daily Mail and Daily published in both epub and Expressnewspapers with every- new e-book anthology mobi formats. So it can be one from girlfriends and wives downloaded to most popular www.iboa.org.uk to the band members, them- tablet devices – including iPad selves. and Kindle. Much of the material in 50 Years: The Rolling Sones has WIN AN E-BOOK previously been unavailable in As a special treat for Spectrum the US and the e-book comes readers, we have a copy of the in at over 2000 pages with over e-book to give away. A down- 150 images. load voucher will be sent to Available this month, Part the sender of the first correct answer to the question below, 1 covers the first 25 years of www.iboa.ie the band, from their early days drawn from our postbag on in the UK, their arrival in August 1: America as part of the “British Which founder member of the Invasion,“ and their sell-out Rolling Stones died in 1969? tours around the world. Never before has such a Answers on a postcard, please, landmark collection been avail- toSpectrum,IBOA The Finance able to the public and at a time Union, IBOA House, Stephen when both music historians Street Upper, Dublin 8 or by and music lovers are turning e-mail to [email protected] their attention to the "world’s greatest rock band.“ 50 Years: The Rolling Stones The book is being published Views from the Inside, Views by the eBook People (www.the from the Outside. (Part 1) by ebookpeople.com) which is a Hanspeter Künzler is pub- new venture from the inter- lished by the eBook People

national interview syndication (www.theebookpeople.com) UNION FINANCE THE IBOA

july 2012 SPECTRUM 55 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 56

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk SPECTRUM july 2012 july IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

CINEMATIX Katy Perry: Part of Me

Filmmakers, Dan Cutforth and Jane Lipsitz, follow Katy Perry during her year-long California Dreams tour. During 124 sold-out shows in arenas around the world, the constant camera presence creates both a front-row seat and a backstage pass as Perry performs for thousands of fans, then returns to the heightened reality of her everyday life. Interviews with family and friends add to the picture, as Perry gives her all onstage, then faces pressing challenges in her personal life.

Some day my prince www.iboa.org.uk won’t come!

lthough they are now a few Merida is not China than any cultural or social centuries past their polit- considerations. icalA prime, princesses still seem the typical Disney’s animation partner, to exert an almost inexplicable Pixar – another of the large pies Odeon Movie Club at Disney in which the late Steve Jobs had

fascination in popular culture Old Harcourt Street www.iboa.ie – with a global television a finger – has gone one better in Station in Dublin audience of 300 million said princess its new offering, Brave, which to have watched Catherine – and what’s stars Merida, the flame-haired, Watch classic movies on the big Middleton marry Prince bow-wielding teenager – whose screen while you relax in big William in Britain last year. more she’s singular lack of interest in the armchairs. During the film you Disney’s princesses have three princes seeking her hand can enjoy full waiting service for traditionally been sweet and at ginger! has prompted debate in the US tasty food or simply sip away on times simpering souls – looking among people who ponder such a your favourite drink. Tasting to a future in the embrace of things that she may be the first plates sell for E6.00 – with cock- a heroic prince after rescuing lesbian heroine in a mainstream tails from E5.00. her from a life of hardship/ animated feature! There’s no cover charge and drudgery/comatose sleep. Voiced by Kelly (Boardwalk the movie club fills up fast so The mould began to crack Empire) Macdonald, Merida is book early to make sure you get with Mulan, the Chinese warrior feisty and strong enough to defy your seat. You can check out the maiden –although the suspicion King Fergus (Billy Connolly in club’s latest film listings on remains that Disney’s commit- fine form). Featuring the vocal www.facebook.com/TheOdeon ment to this project owed more talents of a host of Scottish actors, and call 01-4782088 or e-mail

to its commercial ambitions in Brave is highly recommended. [email protected] for reservations. UNION FINANCE THE IBOA

july 2012 SPECTRUM 57 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 58

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk rolled around. when the Poland/Ukraine caps165Finalsbetweentoing them who amassed experiencementionWhelan and Andrews,amount- like McGeady and Doyle, not to the team, alongside newer talents isn’t it part of what we are? extinguished.hopeall Sure, experience,and then depart, Euro 2012 were selveshappy an award to as thearrive, best atdoubt the fans who won them- time had surely come. World Cup, was another whose cappedatthe time ofthe 2002 in the squad who’d already been made it off the bench. who’dtravelled then but hadn’t Richard Dunne and trip, East too,another veteran theofFar ing among the elite. distinguishedcareers perform- now had the internationalopportunity goals, for Keane to crown Robbie appearances,national ShayGiven fordecadeinter- – records in the course of a ofbarrenwhose number had smashed the first time since 2002. Andwe did travel in hope. For asqualification was celebrated. That was the motto, the mantra, SPECTRUM I Needed Thinking Fresh After Poland-Ukraine... h eie te backbone elite, the of The

oe hn o rie No arrive? to than hope s it really better to travel in GAME TIME JohnO’Shea, the only other Damien Duff would be there Thatbrave generation, two The end justified the means. july 2012 july Was their failure notdeparted more without abject? a single point.at the Euros. Sure, Holland, too,and what countedthe Irish asteam was ablethe to offer going chasmrate that exists between what less difficult to acknowledge the ever been in European Finals. that is equal to the worst there’samounted to a catalogue of failure disappointment. place against such a backdropDoyle’s of 50th, should have takennotto mention McGeady’s and DamienthatDuff’s 100thcap, comings exposed. How cruel too

www.celtichorizontours.com visit our website at e-mail: [email protected] or For more information phone 00-353-1-6292000 or 00-353-21-4377501, At a month’s remove, it’s no Ireland’s three performances How cruelly were the short- 10% discount for IBOA members as well as other holiday attractions in Britain. on trips to major sporting events in Britain, Scotland and Spain – INPHO/Donall Farmer). Poland last month (Photo: Gdansk, ingroup game of Spain in the Euro 2012 tackleAndresIniestato Seán St. Ledger, back, attempts centre Ireland’s DIFFERENT CLASS: the field for its second fixture.exactness when the team Atook pattern to repeated with an thirdeerieminute of its second half. openingtheofgame.the And third minute of the opening disappointment the washalf from ultimate disappointment. This ment would be inevitable. eve though ultimate disappoint-glorioushinteda atchallenge, therewill bedown.a Our past history suggests chequeredthat their then But yes. for every up, talent, the answer ais team undoubtedly blessed with outstanding There is the key. This was not

To the extent that theirs was ⁄ IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

WITH GEORGE HAMILTON

My first night out after re- DIFFERENT CLASS: tainment, and that Plan B con- suggests a major rethink is in turning from eastern Europe was Ireland’s Katie Taylor (red) sisted of a bizarre exercise in the offing. There’s one friendly a visit to Belfast’s Lyric Theatre on her way to victory dice throwing rather than any before the World Cup campaign for a stunning production of Oscar against Sofya Ochigava radical refreshment of the play- begins, away to Serbia in mid- Wilde’s comedy, The Importance of Russia in the 60kg ing personnel. In other words, August. Then it gets serious of Being Earnest.And as I laughed lightweight final at the those in charge figured that dam- in Kazakhstan. Germany and at the play’s memorable punch- World Women’s Boxing age limitation was as good as it got. Sweden are in the group as well. line, I couldn’t help thinking of Championships held in Where was the fire breathed It’s easy to take comfort in the Poznan and Gdansk. To lose one the Olympic Stadium in by Charlton’s teams? Where was fact that both Euro finalists – as early goal may be unlucky, to Qinhuangdao, China in the fighting spirit McCarthy in 1988 – came from Ireland’s lose two looks like carelessness. May (Photo: INPHO/China instilled after the Keane fiasco in group. It was a tough one, and But three and four? FotoPress). Saipan? Ireland went out of that we’ve got to acknowledge that. www.iboa.org.uk I’m left wondering if the aim World Cup on penalties having But in 1988, Ireland drew with was in fact the qualification. scored the only goal conceded the Soviet Union, the beaten That simply getting there was as by the beaten finalists Germany finalists, and only lost to the far as it was going to go. It seems on their way to the decider. Dutch, the eventual winners, that the limit of the side’s But even more depressing when they got a lucky late goal. ambition – as dictated by the than the defeats in Euro 2012 In 2012, however, Ireland tactics imposed – was to be con- is the fact that nothing so far was a long, long way back when the chequered flag was waved. But is the summer a totally lost cause? The Olympics offer McInerney Sports an opportunity of redemption. www.iboa.ie For spirit lifting, we need look Travel Ltd. no further than Katie Taylor. Patiently, painstakingly, she has pursued excellence since she was a teenager, collecting the European and World medals our 10% discount for IBOA members footballers must dream of, over a dozen golds. Now, she’s on the brink of wrapping up the full set, on travel packages to top soccer matches an Irish woman who almost by in Britain, Scotland and Spain. her own efforts has blasted her sport on to the Olympic schedule. We yearned for so much For booking call 1850- 206080 from the Republic from Poland. We left frustrated, or 00-353-61-228022 from Northern Ireland. but unbowed. Now London’s calling. This may yet be a golden www.mcinerneysports.com summer.

S UNION FINANCE THE IBOA july 2012 SPECTRUM 59 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 60

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk submitted by MichaelThe Power winning of Waterford entry for City.the prize crossword19. Abandon; 21.competition Niece; 23. Snare;Brown; in 24.the Abet.8. last Emergency; issue was 13. Escalating; 14. Querulous; 16. Alexander; 18. Sarcasm; Down: aways; 25. Overboard; 26. India;Snag; 27. 14.Sleet; Quintet; 28. Menagerie. 15. Disdain;Across: 17. Engross; 19. Academy; 20. Ulna; 22.PREVIOUS SOLUTION Break- SPECTRUM drawn from our post bag after the closing date. A prize of WIN E50 1.Jonah; 2. Revealing; 3. Salutation; 4. Leveret; 5. Mallard; 7.6. Bide; 1.Jerusalem; 6. Bible; 9. Navel; 10. Velodrome; 11. Heartbreak; 12. 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. july 2012 july *except the Apple i-Phone Across: to cut up the magazine. 8. A photocopy of the grid is acceptableFinance Union,if you preferIBOA House,not Stephen Street Upper, Dublin Entries should be sent to Crossword, Address Name 28. Breathed in (9) 27. Surpass (5) 26. Fear (5) 25. Evaluation (9) 22. Lacking decorum (10) 20. Ballet (4)dress 19. Long journey (7) 17. Coffee maker (7) 15. Set in motion (5,2) 14. Devotee (7) 12. Mark of old wound (4) 11. Practising (10) 10. Universal language (9) 9. 6. 1. entrydrawn from postbag our onSeptember 1 A prize of Employer E-mail Address ......

Spanish friend (5) Hurl (5) Asia (9) City in South-East ...... PRIZE CROSSWORD ...... E 50 will be given to the sender of the first correct ...... 24. Post (4) 23. Finished (5) 21. Subject (5) 19. Cover partly º(7) 18. Loss of memory (7) 16. Will (9) 14. Judge (9) 13. One caring for infant 8. 7. 6. 5. 4. 3. 2. 1. Down:

Branch/Dept

Kind (4) One who lives near (9) Ringo (5) (10) Academic subject (9) architecture (5) Style of Greek Uses up (7) Supervise (7) conflagration (10) Terminal global Spectrum, Union No ...... IBOA The – , 2012, ...... IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

WIN PICTURE BOARD E30

2 34

1 5 6 7 Use the first letter of the surnames of each of the celebrities pictured to spell out the name of an international pop star. 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 September 1, 2012. The winner of the last Picture Board quiz was Noel Cassidy of Salthill, Co. Galway. The answer was Madonna www.iboa.org.uk

WIN SUDOKU E30 warded to the sender of the first correct entry drawn from our post bag on September 2 3 4 1, 2012. All entries should be sent to Sudoku, Spectrum,

IBOA – The Finance Union, IBOA House, Stephen Street 9 3 7 www.iboa.ie Upper, Dublin 8. You can submit your entry on a photo - copy of the grid – if you would prefer not to cut up the5 8 4 magazine. The winning entry for the Sudoku Challenge in the last issue was submitted by Paul Gibson of Banbridge, Co. Down. 6 3 9 4 8 5 6 Name...... Union No: ...... 8 1 4 3 Address ...... 3 9 1 ......

E-mail Address ...... 4 1 6 6 4 5 Employer...... Branch/Dept...... UNION FINANCE THE IBOA

july 2012 SPECTRUM 61 HR TRE ESRVE PCA OU IBOA NEWS SPECIAL FOCUS NEWSREVIEW SHORT STORIES 62

IBOA THE FINANCE UNION www.iboa.ie www.iboa.org.uk crisis began to bite. negotiationsto buy the bank which had filed acquiredforhad Atlanticthebankruptcy Bankin Delaware $60mafterspendingfor years inin two 2008 as the financial SPECTRUM D Big deal is no big deal!

ULTRA VIOLET Lin Chunping became a celebrity in China when it was reported in January that he US bank for a bargain price? id you hear the one about the Chinese rice trader who claimed to have bought a july 2012 july Agius? Marcus alerted anyone Has financial institution in theChiefthe Executive West.majorofa hecould well have futurea as opportunities in banking. social status and to secure‘exaggerated’ future in order exposed,wastohadsaidhe Lin raise his top advisory body. government’sConference, the People’s Political Consultative Chinese the to municipal-level appointment his up give to forced been has andfraud unrelated an for arrest under Bank in Delaware. butthatthere wasAtlanticno buy Atlantic Bank in Delawarefoundthat not only did – he theynot story, the into checked mythical. inthe sense that it was entirely precisely what it proved to be – expertise business which,of “legendary” course, – is his of inhis local area inrecognition to a major political appointment regarded by many Chinese. skillsare stereotypically Jewish highly under man years businessagement, whose 85 for USbank had the been in that journalistsoperation told Lin

Head Hunter: Withanapproach like that hn i banking fantasy hisWhen h 4-erod s now is 41-year-old The hn hns journalists Chinese When Newsof the acquisition led To addTocolour thetostory, Barclays Marcus Agius of IBOA EXTRA WORK AGENDA LIFE & STYLE ARTS & LEISURE

with STEPHEN MALONE ‘Unlucky’ consultants given second chance in Spain

t is heartening to see that by enhancing transparency Ithe new Spanish Govern- and easing doubts about the ment does not bear grudges. value of bank shares in Some might consider Spain. that a firm of consultants BlackRock – which had which described Anglo carried out the exhaustive Irish Bank as a ‘model’ just stress tests of the Irish bank- two years before it collapsed ing system in 2011 – was – with devastating results apparently passed over for for both the Irish and Euro- the Spanish contract. pean banking systems – However, it remains to would be so reputationally be seen if investors will damaged that it might never share the Spanish Govern- secure another contract. ment’s respect for Oliver But not the magnanimous Wyman’s views after its Spanish! untimely endorsement of The Spanish Economic one of the most toxic banks Ministry was clearly willing in history. to forgive and forget this Oliver Wyman’s lack of unfortunate mistake when transparency in the audit- it decided to appoint US ing of its own accounts, has company, Oliver Wyman,

also been flagged by rival www.iboa.org.uk and Roland Berger Strategy consultancy, Deloitte’s. Consultants from Germany Roland Berger, on the to audit Spain’s banks. other hand, is reported to The two consultancies Spanish Government appoints be in preliminary talks with were selected to provide an the German stock exchange, independent assessment of Deutsche Börse, about set- Spain’s banking sector as one-time backers of Anglo Irish ting up a new European part of the ministry’s attempt ratings agency to be based to boost investor confidence to audit its banking system in Frankfurt. Hadron Collider www.iboa.ie team rejects RBS request?

There is no truth in the rumour that, following the discovery of the elusive Higgs boson – commonly known as the ‘God particle,’ the team behind the Large Hadron Collider at CERN in Switzerland has rejected a request to take on a truly impossible challenge – to find the cause of the No longer an Anglophile?: ‘glitch’ in the RBS computer – com- Oliver Wyman’s Chief Executive, monly known as the ‘Sod particle’!

John Drzik UNION FINANCE THE IBOA

july 2012 SPECTRUM 63