Corporate Governance

AIB Group plc is the holding company for Allied Irish Banks, p.l.c. (AIB).

AIB is a financial services group operating predominantly in Ireland and the United Kingdom. We provide a range of services to retail, business and corporate customers, with market-leading positions in key segments. AIB is the principal brand across all geographies. In Ireland, EBS is our challenger brand and Haven is our mortgage broker channel.

With over 3 million customers, we are committed to backing sustainable communities. We pledge to do more to support the transition to a low-carbon economy.

AIB Group plc is listed on the Main Securities Market of Euronext Dublin and has a listing on the London Stock Exchange. Allied Irish Banks, p.l.c. is a Credit Institution licensed and regulated by the Central Bank of Ireland and is subject to the provisions of the Central Bank of Ireland's Corporate Governance Requirements for Credit Institutions 2015.

References on these pages to “AIB”, “the Group” and/or “the AIB Group” refer to AIB Group plc and its subsidiaries. References on these pages to the “Company” refer to AIB Group plc and Allied Irish Banks, p.l.c.  References to “Board” and/or “Committee” refer to the boards of directors and subcommittees of both AIB Group plc and Allied Irish Banks, p.l.c. 

The Board and Board Committees of AIB Group plc and Allied Irish Banks, p.l.c. are mostly the same, therefore we apply relevant corporate governance requirements and codes to both entities. Other regulation and guidance may apply to our subsidiaries.

Certain information on the Group is provided on this website for ease of reference or due to legislation, regulation or best practice guidance. More detailed and additional information on the corporate governance structures in place across the Group is also available in the Corporate Governance Section of the Annual Financial Report each year available here.

The Group’s Governance Framework underpins effective decision-making and accountability. It is the basis on which the Group conducts its business and engages with customers and stakeholders. It ensures that organisational and control arrangements are appropriate to the governance of the Group’s strategy and operations and the mitigation of related material risks. This framework encompasses AIB Group plc and its subsidiaries.

Corporate Governance Requirements and Codes

AIB’s corporate governance practices meet the many statutory and regulatory obligations that apply to the Group including various corporate governance codes, regulations and best practice standards and guidelines, Irish company law, the Listing Rules of the Main Securities Market of Euronext Dublin and the London Stock Exchange, the UK Corporate Governance Code and, for UK businesses, UK company law.

As a credit institution, AIB is subject to the requirements of the Central Bank of Ireland’s Corporate Governance Requirements for Credit Institutions, including requirements which specifically relate to ‘high impact institutions’. Additional corporate governance obligations for significant credit institutions are met for the purposes of the European Union (Capital Requirements) Regulations 2014 (CRD) (which transposed the EU Capital Requirements Directive into domestic law).

Compliance with CRD

Regulation 84 of CRD requires institutions to explain, on their website, how they comply with the certain regulations contained in CRD. The document which sets out how AIB complies with the requirements of Regulations 76 to 83 of CRD, which relate primarily to Governance, Remuneration, and Reporting, can be found here.

The Group is headed by an effective Board which is collectively responsible for the long-term sustainable success of the Group, generating value for shareholders and contributing to wider society. The Board, including the Chief Executive Officer (CEO) is supported by the Executive Leadership Team, being the most senior management team of the Group. The Board is responsible for maintaining effective oversight of the Group consistent with Board approved policy.

The Board maintains a clear division of responsibilities, including between the Chair, who is responsible for the overall leadership of the Board and for ensuring its effectiveness, and the CEO, who manages and leads the business. The governance framework and organisational structure are sufficient to ensure that no one individual has unfettered powers of decision or exercises excessive influence. Key roles and responsibilities and a formal schedule of matters specifically reserved for Board decision are clearly defined, documented and communicated to key stakeholders on this site.

Key Roles and Responsibilities

The Board is responsible for corporate governance, encompassing leadership, direction and control of the Group. It assesses the basis on which the Group generates and preserves value over the long term and is accountable to shareholders for financial performance. The Board is also responsible for approving high-level policy and strategic direction in relation to the nature and scale of risk that the Group is prepared to assume in order to achieve its strategic objectives, and for maintaining an appropriate system of internal controls.

While arrangements have been made by the Directors for delegation of the management, organisation and administration of the Group’s affairs, certain matters are specifically reserved for decision by the Board.

Relationship with the Irish State

The Group received significant support from the Irish State in the context of the financial crisis due to its systemic importance to the Irish financial system, and at one point the State held more than 99% of the issued share capital of the Group. This shareholding began reducing on the IPO of AIB Group in 2017, and on 17 June 2025 the Department of Finance announced the State’s complete exit from AIB’s share register. This resulted in the Group returning to full private ownership.

AIB owes an immense debt of gratitude to the Irish taxpayer for the support received during one of the Group’s most challenging times.

Board Meetings

The Chair and the Chairs of each Committee ensure Board and Committee meetings are structured to facilitate open discussion, constructive challenge and debate. The Board receives a comprehensive Executive Management report on a regular basis. The remainder of its agenda is built from the indicative annual work programme, strategic items for consideration, any activities out of the ordinary course of business, requested in depth reviews and scheduled updates on key projects. There is a set escalation process in place through Executive Management and Board Committees which ensures the Board receives the necessary information at the appropriate time to enable the right decisions to be taken. The Chair leads the agenda setting process, supported by the CEO and Company Secretary.

Attendance at Board meetings and Board Committee meetings is outlined in the Corporate Governance chapter and the respective Committee reports within the Annual Financial Report here. The Non-Executive Directors also meet on a number of occasions every year in the absence of the Executive Directors.

Board Performance Evaluation

The Board conducts an annual evaluation of its effectiveness, and is required to have an external performance review every three years. The Chair of the Board leads the annual review of the Board’s effectiveness, that of its Committees and individual Directors with the support of the Nomination and Corporate Governance Committee.

The aim of these evaluations is to review the Board’s composition, expertise, diversity and how effectively members work together to achieve objectives. Full details of the most recent Board Performance Review can be found in the Annual Financial Report here.

Conflicts of Interest

The Board approved Code of Conduct and Conflicts of Interest Policy for Directors sets out how actual, potential or perceived conflicts of interest are to be evaluated, reported and managed to ensure that Directors act at all times in the best interests of the Group and its stakeholders. Executive Directors, as employees of the Group, are also subject to the Group’s Code of Conduct and Conflicts of Interests Policy for employees.

Diversity

Employee diversity and inclusion in AIB Group is addressed through policy, practices and values which recognise that a productive workforce comprises different work styles, cultures, generations, genders and ethnic backgrounds. AIB Group opposes all forms of unlawful or unfair discrimination. The efficacy of related policy and practices and the embedding of the Group’s values is overseen by the Board.

The Board recognises and embraces the benefits of diversity among its own Members, including diversity of skills, experience, background, gender and other qualities and is committed to achieving the most appropriate blend and balance of diversity possible over time.

While the Board recognises that the diversity is wider than gender, in order to maintain its objective of a diverse Board, it has set measurable targets and objectives around the under-represented gender in its Board Diversity Policy.

A copy of the Board Diversity Policy which applies to the Group is available here. Further details are available in the Corporate Governance Section of the Annual Financial Report each year available here.

The Board is assisted in fulfilling its duties by a number of Board Committees, whose purpose it is to consider, in greater depth than would be practicable at Board meetings, matters for which the Board retains responsibility. Each Committee operates under Terms of Reference approved by the Board.

The Terms of Reference of the Board and Advisory Committees are available at the following links:

Board Audit Committee Terms of Reference are available here.

BAC monitor and review the scope, nature and effectiveness of the work of the internal audit function. The internal audit functions responsibilities and mandate are set out in the Group Internal Audit (GIA) Charter which is available here

Board Risk Committee Terms of Reference are available here.

Nomination and Corporate Governance Committee Terms of Reference are available here.

Remuneration Committee Terms of Reference are available here.

Sustainable Business Advisory Committee Terms of Reference are available here.

Technology and Data Advisory Committee Terms of Reference are available here. 

Reports on the activities of each of the Committees, can be found in the Governance Report of the Annual Financial Report.

Details of current members of each Board Committee are located under the ‘Biographies and Committee Memberships’ section of The Board thumbnail on this website.

The Board is collectively responsible for the long-term, sustainable success of the AIB Group and ensuring that there is a clear and cohesive corporate governance structure in place. The Board comprises the Chair, Independent Non-Executive Directors and Executive Directors.

- Chair

The Chair leads the Board, setting its agenda, ensuring Directors receive adequate, accurate and timely information, facilitating the effective contribution of the Non- Executive Directors, ensuring the proper induction of new Directors, the on-going training and development of all Directors, and reviewing the performance of individual Directors. The role of the Chair is separate from the role of the CEO, with clearly defined responsibilities attaching to each; these are set out in writing and agreed by the Board.

- Deputy Chair

The Deputy Chair, who may be appointed from time to time, deputises in the absence of the Chair. The Deputy Chair would assume the role of the Chair for Board meetings and other tasks as required from time to time.

- Senior Independent Director

The Senior Independent Director (“SID”), acts as a conduit for the views of shareholders and is available as an alternate point of contact to address any concerns or issues they feel have not been adequately dealt with through the usual channels of communication. The SID also leads the annual review of the Chair’s performance and succession planning for the Chair’s role. The SID attends meetings with major shareholders to listen to their views in order to develop a balanced understanding of the issues of concern to them.

- Independent Non-Executive Directors

Independent Non-Executive Directors (INEDs) provide a key layer of oversight, scrutinising the performance of management in meeting agreed objectives and monitoring reporting against performance. They bring an independent viewpoint to the deliberations of the Board that is objective and independent of the activities of the management and of the Group. They constructively challenge and help develop proposals on strategy an other key matters. In addition, they oversee the Group’s strategy through regular strategic updates, monitoring strategic outcomes, one-to-one meetings with members of the senior management, such as the Group Chief Executive, Chief Financial Officer (CFO), Chief Risk Officer (CRO) and other members of the Group Executive Leadership Team. INEDs play a key role in appointing and removing Executive Directors.

- Executive Directors

Executive Directors have executive functions in the Group in addition to their Board duties. The role of Executive Directors, led by the CEO, is to propose strategies to the Board and, following challenging Board scrutiny, to execute the agreed strategies to the highest possible standards. 

Biographies and Committee Memberships

Jim Pettigrew, Non-Executive Director and Chair

Appointed: 28/10/2021

Background & Experience: Jim Pettigrew has over 37 years’ leadership experience in UK and international financial services, including board-level roles as CEO and Chair. He served as Chair of Scottish Financial Services, the Scottish financial services trade body. He also served as Co-Chair of Scotland’s Financial Services Advisory Board and is a former President of the Institute of Chartered Accountants of Scotland. Jim retired as Chair of Virgin Money and CYBG plc in 2020. He is a Chartered Accountant and Fellow of the Association of Corporate Treasurers, with an LLB from Aberdeen University and a DipACC from Glasgow University.

Committee Membership(s): Member of Nomination and Corporate Governance & Remuneration Committees.

Anik Chaumartin - Independent Non-Executive Director

Appointed: 01/07/2021

Background & Experience: Anik Chaumartin has more than 40 years’ international and professional services experience. She spent 27 years as a partner at PwC in Paris, holding leadership positions for 15 of those years. Anik acted as Global Client Relationship Partner and Lead Audit Partner for major banking and financial services organisations, demonstrating expertise in audit and client management. Her career reflects a strong commitment to excellence in professional services and leadership within the financial sector.

Committee Membership(s): Chair of the Sustainable Business Advisory Committee & Member of the Board Audit Committee.

Basil Geoghegan – Independent Non-Executive Director

Appointed: 04/09/2019

Background & Experience: Basil Geoghegan has held senior roles as Managing Director at Goldman Sachs, Deutsche Bank and Citigroup in London and New York, gaining broad experience in M&A, corporate finance and strategic advisory. He qualified as a solicitor with Slaughter and May and holds an LLB from Trinity College, Dublin, as well as an LLM from the European University Institute. Basil’s career spans the US, UK, Ireland and internationally, with expertise in financial strategy and legal advisory.

Committee Membership(s): Board Risk Committee and Nomination and Corporate Governance Committee.

Tanya Horgan - Independent Non-Executive Director

Appointed: 14/09/2021

Background & Experience: Tanya Horgan has extensive experience in compliance, internal audit and risk management, with over twenty years in publicly listed companies. She qualified as a chartered accountant with PwC and has held roles in organisations including Tesco, Flutter Entertainment plc and Primark. Tanya holds a B.Comm in Accounting from University College Cork, bringing strong governance and risk expertise to the Board.

Committee Membership(s): Board Risk Committee, Technology & Data Advisory Committee.

Sandy Kinney Pritchard – Independent Non-Executive Director

Appointed: 22/03/2019                                      

Background & Experience: Sandy Kinney Pritchard has significant experience in financial services, having held non-executive directorships at Irish Life, Permanent TSB plc, TSB Bank plc, MBNA Ltd and Credit Suisse (UK) Ltd, as well as serving as a senior partner at PricewaterhouseCoopers LLP. Sandy is a qualified accountant and a graduate of University College Dublin, with a career grounded in leadership and governance across the financial sector.

Committee Membership(s): Chair of the Board Audit Committee & Member of the Board Risk Committee.

Elaine MacLean – Senior Independent Director

Appointed to the Board: 04/09/2019                                      

Background & Experience: Elaine MacLean is a highly experienced human resources director, specialising in financial services and retail. Her early career included roles at Harrods and Windsmoor, followed by serving as Retail Operations Director and Human Resources Director with Arcadia. Elaine later moved into financial services, culminating in her appointment as Group Human Resources Director for Legal and General plc. She is the Designated Non-Executive Director for workforce engagement and holds an MA in English Literature and Psychology from the University of Glasgow.

Committee Membership(s): Chair of both the Remuneration Committee and the Nomination and Corporate Governance Committee.

Andy Maguire - Independent Non-Executive Director

Appointed: 15 March 2021

Background & Experience: Andy Maguire has 37 years of financial services experience, including 16 years with the Boston Consulting Group, where he became Managing Partner of the London office covering the UK and Ireland, prior to which he held several global roles, including the Global Head of Retail Banking. From 2014 to 2020, Andy was Group Chief Operating Officer for HSBC Holdings plc, overseeing operations, technology and transformation. He has chaired Napier Technologies Limited and CX Holdings. Andy holds a BA and a BAI from Trinity College, Dublin.

Committee Membership(s): Chair of Technology and Data Advisory Committee and member of Board Risk Committee.

Brendan McDonagh, Independent Non-Executive Director and Deputy Chair

Appointed: 27/10/2016                                      

Background & Experience: Brendan McDonagh began his banking career with HSBC in 1979, working across Asia, Europe, North America and the Middle East. He held roles such as Group Managing Director for HSBC Holdings plc, CEO of HSBC North America Holdings Inc. and served as Director of Ireland’s NTMA, Bradford & Bingley Limited and NRAM Limited. Brendan was Executive Chair of The Bank of N.T. Butterfield & Son Limited and appointed Deputy Chair of AIB Group in 2019.

Committee Membership(s): Chair of the Board Risk Committee, member of the Board Audit Committee, Nomination and Corporate Governance Committee and Remuneration Committee.

Fergal O'Dwyer – Independent Non-Executive Director

Appointed: 22/01/2021

Background & Experience: Fergal O’Dwyer has significant expertise in financial management, treasury, strategy, capital deployment and development. He retired in 2020 from DCC plc, where he began as an Associate Director, later progressing to Chief Financial Officer in 1992, and Executive Director in 2000. Prior to DCC, Fergal worked at PwC and KPMG. He serves on the board of Goodbody Stockbrokers UC and AIB Group (UK) p.l.c. Fergal is a Chartered Accountant with a distinguished career in finance.

Committee Membership(s): Board Audit Committee and Remuneration Committee.

Jan Sijbrand - Independent Non-Executive Director

Appointed: 14/09/2021

Background & Experience: Jan Sijbrand has held executive roles at Royal Dutch Shell plc, Rabobank Nederland, ABN AMRO Holding N.V. and NIBC Bank N.V. and was a member of the Executive Board and Chair for Supervision at De Nederlandsche Bank N.V. (the central bank of the Netherlands). He also served on the Global Board of PwC until June 2022. Jan holds an MSc in Applied Mathematics and a PhD in Mathematics from the University of Utrecht.

Committee Membership(s): Board Risk Committee and Sustainable Business Advisory Committee

Anne Sheehan - Independent Non-Executive Director

Appointed: 01/09/2025

Background and Experience: Anne Sheehan is General Manager of Enterprise Commercial for Europe North at Microsoft and previously served as Chief Executive Officer of Microsoft Ireland. Anne has extensive experience in technology across Ireland, Europe and the US, focusing on digital transformation and operational efficiency. She began her career at IBM and moved to Vodafone, where she held leadership roles including Director of Vodafone Business UK and Director Vodafone Business (Enterprise) Ireland.

Committee Membership(s): Technology and Data Advisory Committee.

Colin Hunt – Chief Executive Officer & Executive Director

Appointed to the Board: 08/03/2019

Background & Experience: Colin Hunt was appointed Chief Executive Officer of AIB Group in 2019, having joined AIB in 2016 as Managing Director of Wholesale, Institutional & Corporate Banking. Previously, Colin has served as Managing Director at Macquarie Capital, Policy Adviser at the Departments of Transport and Finance and held senior roles at Goodbody Stockbrokers and Bank of Ireland. He holds a PhD in Economics from Trinity College, Dublin and B.Comm and MEconSc degrees from University College Cork and is a Chartered Bank Director and Fellow of the Institute of Bankers.

Committee Membership(s): Sustainable Business Advisory Committee.

Donal Galvin – Chief Financial Officer & Executive Director

Appointed to the Board: 28/05/2021

Background & Experience: Donal Galvin joined AIB as Group Treasurer in 2013, was appointed Chief Financial Officer in 2019 and joined the Board in 2021. Donal has over 27 years of experience in domestic and international financial markets. He previously held a number of senior executive roles, including Global Head of Asian Fixed Income & Equities at Mizuho Securities in Hong Kong and a number of senior Global Financial Market roles across Europe and Asia Pacific for Rabobank. He serves as a Non-Executive Director of Goodbody Stockbrokers UC.

Key Roles and Responsibilities

- Chief Executive Officer (CEO)

The CEO manages the Group on a day-to-day basis and makes decisions on matters affecting the operation, performance and strategy of the Group’s business.

- Executive Leadership Team

The Executive Leadership Team is the most senior management team of the Group and is accountable to the CEO. Under the stewardship of the CEO the Executive Leadership Team has responsibility for the day-to-day management of the Group’s operations, excluding those matters which are reserved specifically for the Board. They operate within the financial and risk limits set by the Board.

Led by the CEO, the Executive Leadership Team has primary authority and responsibility for the day-to-day operations of, and the development of strategy for the Group.

- Group Company Secretary and Head of Corporate Governance

The Directors have access to the advice and services of Mr Conor Gouldson, the Company Secretary, and Ms Aeilish McGovern, Head of Corporate Governance, who advise the Board and Board Committees on all governance matters, and Corporate Governance best practise, ensuring that Board procedures are followed and that the Group is in compliance with applicable rules and regulations. Both the appointment and removal of the Company Secretary is a matter for the Board as a whole.

Executive Leadership Team Biographies

Colin Hunt – Chief Executive Officer & Executive Director

Background & Experience: Colin Hunt was appointed Chief Executive Officer of AIB Group in 2019, having joined AIB in 2016 as Managing Director of Wholesale, Institutional & Corporate Banking. Previously, Colin has served as Managing Director at Macquarie Capital, Policy Adviser at the Departments of Transport and Finance and held senior roles at Goodbody Stockbrokers and Bank of Ireland. He holds a PhD in Economics from Trinity College, Dublin and B.Comm and MEconSc degrees from University College Cork and is a Chartered Bank Director and Fellow of the Institute of Bankers.

Donal Galvin – Chief Financial Officer & Executive Director

Background & Experience: Donal Galvin joined AIB as Group Treasurer in 2013, was appointed Chief Financial Officer in 2019 and joined the Board in 2021. Donal has over 27 years of experience in domestic and international financial markets. He previously held a number of senior executive roles, including Global Head of Asian Fixed Income & Equities at Mizuho Securities in Hong Kong and a number of senior Global Financial Market roles across Europe and Asia Pacific for Rabobank. He serves as a Non-Executive Director of Goodbody Stockbrokers UC.

Cathy Bryce – Managing Director of Capital Markets

Background & Experience: Cathy was appointed Managing Director of Capital Markets in 2019. She is an experienced leader with a strong background in investment banking and treasury management, having started her career at Morgan Stanley and ABN AMRO. Cathy has held senior roles across international and Irish portfolios and also serves as a Non-Executive Director at Goodbody Stockbrokers UC. She holds a business degree from Trinity College Dublin, an MBA from INSEAD Business School and completed the General Management Program at Harvard Business School.

Geraldine Casey – Managing Director of Retail Banking

Background & Experience: Geraldine joined AIB as Chief People Officer in January 2020 and was appointed MD Retail Banking in October 2023. She has over 20 years’ experience in the retail and financial Services sectors and in her current position leads AIB’s Retail Banking business which includes Homes, Consumer, SME, Wealth, AIB UK along with the Group’s network of branches. Geraldine is President of the Institute of Bankers in Ireland, holds a B.Comm from University College Cork and is a Certified Bank Director, Institute of Bankers.

Barry Field - Corporate Affairs Director

Background & Experience: Barry was appointed Corporate Affairs Director in February 2024, to safeguard and protect AIB’s reputation, ensuring open communication with stakeholders and fostering trust, to enable the delivery of AIB’s strategic priorities. Barry joined AIB in 2008, and has over 15 years’ experience in financial, regulatory and treasury roles, including Head of Customer Treasury Services in New York and Chief of Staff in the Office of the CEO.

Michael Frawley – Chief Risk Officer

Background & Experience: Michael was appointed Chief Risk Officer in July 2022. Prior to joining AIB he had 26 years’ banking experience across retail, commercial, wholesale, asset management, trade finance, strategy implementation and risk management, including international roles at HSBC and Permanent TSB. Michael holds an MBA from Columbia Business School, a B.Comm from University College Cork and is a CFA holder.

Graham Fagan - Chief Operating Officer

Background & Experience: Graham was appointed Chief Operating Officer in July 2025, following his role as Chief Technology Officer. Since joining AIB in 2016, Graham has led technology, digital and cyber security functions, driving innovation and efficiency. He previously held leadership roles at Dell Technologies, Perot Systems and British Telecom. Graham holds BSc and MSc degrees from Trinity College Dublin, is a Chartered Technology Professional, Fellow of the Irish Computer Society and is certified in the Governance of Enterprise IT.

David McCormack – Chief People Officer

Background &Experience: David was appointed Chief People Officer in October 2023. With over 25 years’ experience as a senior HR professional, he has held roles across all facets of the HR function, including Group Deputy Chief People Officer and Head of HR in AIB UK. David has overseen the design and implementation of major strategic programmes aligning employees to the Group’s cultural and strategic ambitions.

Paul Travers - Managing Director Climate Capital

Background and Experience: Paul was appointed Head of Climate & Infrastructure Capital in February 2024 after joining AIB in 2018 as the Head of Energy, Climate Action and Infrastructure. He leads lending activities for renewables and critical infrastructure projects across Ireland, the UK, Europe and North America. Prior to AIB, Paul was previously the Head of Macquarie Capital Ireland, which is an infrastructure and renewables specialist investor and one of the world’s largest infrastructure asset managers. Paul was also a Director for numerous Macquarie investments. He is a qualified accountant and a Certified Bank Director. He also serves as a Non-Executive Director on the Board of AIB Group (UK) p.l.c.

Mary Whitelaw - Chief Strategy and Sustainability Officer

Background & Experience: Mary was appointed to the AIB ELT in 2019 having held a number of senior leadership roles across AIB in Capital Markets, Retail Banking and Treasury. Mary is a Chartered Accountant and Chartered Tax Advisor and holds a degree in Commerce & German and a Masters in Accounting from University College Dublin. She is also a NonExecutive Director of Goodbody Stockbrokers UC.

Orlaith Ryan - Chief Customer Officer

Background & Experience: Orlaith was appointed Chief Customer Officer in October 2024. She brings over 25 years’ experience in insight, commercial and transformation roles at Vodafone, Aviva and FTI Consulting. Before joining AIB, Orlaith served for eight years at Sky Ireland in several commercial and customer roles, most recently as Chief Commercial Officer where she led commercial strategy, customer growth and innovation, focusing on data-driven customer outcomes. Orlaith is a Certified Bank Director and a recently appointed board member of Financial Services Ireland.

Miriam Nagle - Group General Counsel

Background & Experience: Miriam was appointed Group General Counsel and joined the ELT in 2025. She is a litigation specialist and has over two decades of legal experience in private practice and in-house roles. Miriam joined AIB in 2013 and has held a range of senior positions across the Bank. She currently leads the legal and third-party management teams. She holds a Bachelor of Civil Law from University College Cork and was admitted to the Law Society of Ireland in 2005.

Directors' Statement on Risk Management and Internal Controls

The Board of Directors is responsible for the Group’s system of internal control, which is designed to manage the risk of failure to achieve business objectives, and can provide only reasonable and not absolute assurance against material misstatement or loss. The Group has implemented a framework and policy architecture covering business and financial planning, corporate governance and risk management. The system of internal controls is designed to ensure that there is thorough and regular evaluation of the Group’s risks in order to react accordingly, rather than to eliminate risk. This is done through a process of identification, measurement, monitoring and reporting.

This process includes an assessment of the effectiveness of internal controls, which accords with the Central Bank of Ireland’s Corporate Governance Requirements for Credit Institutions 2015 and the UK Corporate Governance Code.

Further information on the risk management framework of the Group can be found in the Annual Financial Report.

The six designated stakeholder groups in AIB are customers, employees, investors, society, suppliers, and the Group’s regulators. In order for the Group to meet its responsibilities to its stakeholders and to take stakeholder view into consideration in decision making, the Board strives to ensure that effective engagement is maintained with these groups.

The Group engages with stakeholders through various means such as face-to-face meetings including regular and structured engagement and also out of course meetings on specific topics, research, focus groups and surveys, media engagement, direct partnerships and collaboration, sponsorship and community initiatives, participation in expert forums and events, and through the Group’s in-house experts liaising directly with associated business, public and charitable groups.

The Group’s Investors Relations team manages an extensive programme of engagement which includes the Chair, CEO and CFO and major shareholders and other institutional investors. The results of such engagement are communicated to the other Directors to ensure that the views of major shareholders and the investment community are understood by the Board as a whole.

The Group has a number of procedures in place to allow its shareholders and other stakeholders to stay informed about matters affecting their interests. In addition to the Annual Financial Report , which is only sent to those shareholders who request it, the following communication tools are used by the Group:

Website

Since 2000, the Annual Financial Report, the Half-Yearly Financial Report, and the Annual Report on Form 20-F are available on the Group’s website. In accordance with the Transparency (Directive 2004/109/EC) (Amendment)(No.2) Regulations 2015, all Annual and Half-Yearly Financial Reports must be available to the public for at least ten years. From 2008 to 2013, the Annual Financial Report and the Annual Report on Form 20-F were combined.

The Group’s presentation to fund managers and analysts of annual and half-yearly financial results are also available here.

Annual General Meeting (AGM)

The AGM is an opportunity for shareholders to hear directly from the Board on the Group’s performance and developments of interest for the year to date and, importantly, to ask questions.

All shareholders of the Company are invited to attend the AGM. Separate resolutions are proposed on each issue and voting is conducted by way of poll. The votes for, against and withheld on each resolution, including proxies lodged, are subsequently published on the Group’s website. It is usual for all Directors to attend the AGM and to be available to meet shareholders before and after the meeting. The Chairs of the Board Committees are available to answer questions about the Committee’s activities. A help desk facility is available to shareholders attending the AGM.

Full details, including all relevant documents, on this year’s and previous years’ AGMs are available in the Annual General Meeting section of this website here.