AIB appoints 'special' risk management adviser

Allied Irish Banks has appointed a 'special adviser' on risk management in the wake of fraud investigations into its US subsidiary Allfirst, which lost almost $700 million in currency trading.

John Heimann will advise the board on the group’s risk structures, policies, procedures and governance. His background includes a number of high-profile supervisory roles, including US comptroller of the currency, superintendent of banks for the state of New York and chairman and special adviser to the Financial Stability Institute of the Bank for International Settlements.

In the private sector, Heimann was chairman of Merrill Lynch Global Financial Institutions.

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