Tag Archives: Richie Boucher

Former Bank of Ireland Chief Executive Richie Boucher

Asked about whether the bank had any issues impending similar to those that were identified at Permanent TSB in relation to customers and the mortgage interest rates they were entitled to secure, Mr Boucher said if the bank had any material disclosure of that kind, it would be making it.

“I’m talking to the market today. Anything that would have a material impact on our reputation is something I would disclose. If we identify a mistake, we engage with the regulatory authorities and do remediation with the customers expeditiously,” he said.

August, 2015

The bank announced on Friday that Mr Boucher had informed the company of his intention to leave and said a selection process was under way to appoint a new CEO. Mr Boucher said he would would continue in his role “pending completion” of this process, having led the bank since February 2009.
Mr Boucher said that while he enjoyed his job and was excited about the group’s “transformational investment” in its IT systems, the time was right to hand over the baton.

February 2017

Earlier this week Bank of Ireland said it had identified another 6,000 customers who were wrongly removed from low-interest tracker mortgage loans. This brings to 10,300 the number of people affected by the controversy at Bank of Ireland alone.

he total cost of putting customers back on low tracker rates, refunding them for overcharged interest payments, and compensating them at a rate of 10pc of the refunds, will cost the bank up to €200m. This is up from €26m previously set aside by the bank.

November 2017

Good times.

PTSB disaster sparks wider Central Bank tracker probe (August 2, 2915, RTÉ)

Richie Boucher to step down as Bank of Ireland CEO (Irish Times, March 24, 2017)

Tracker controversy may stop Bank of Ireland paying a dividend (Novemeber 19, 2017)

Rollingnews

90379233Richie Boucher, Bank of Ireland CEO at Leinster House this morning.

This morning/afternoon

At the banking inquiry:

Mr [Richie] Boucher told the banking inquiry he knew on September 29th a “systemic guarantee” would be put in place.
He confirmed the position of his predecessor [as Bank of Ireland CEO] Brian Goggin that all banks would be covered by the Government decision.
This is in direct contrast to the evidence of Allied Irish Bank [CEO Dermot Gleeson] before the committee.
The chief executive also defended his salary of €843,000….
…Mr Boucher was asked about a letter he had written to Dublin City Council as Head of Retail about a property deal in 2007.He said that was a “mistake” and one of the “many stupid things he had done”.
It was a letter of support for a development by Sean Dunne in Ballsbridge, Dublin 4.

Good times.

Banking inquiry: B of I knew it ‘may need’ government help (Irish Times)

(Sam Boal/Photocall Ireland)

bouchdonnelly

Guess what?

There’s a catch.

Steve Dempsey writes:

Here’s something that might be of interest to Broadsheet readers. It came out in the discussion of Bank of Ireland’s figures in [ the Finance] Committee [this morning] that over 90% of the sustainable deals that they’ll offer as part of dealing with the mortgage crisis, will see customers pay more over time than their original mortgages. It’s pretty alarming stuff. Best summation of the figures is from about 5mins 30 secs.

Hard.

Core.

Bank of Ireland Chief Executive Richie Boucher (joined bank in 2003) and CFO Andrew Keating (joined bank in 2004) this morning presenting a €190m loss-before-tax at the bank during the year ending December 31 (compared to a €950m loss last year).

Bank of Ireland Upbeat As Losses Narrow (Telegraph)

(Sam Boal/Photocall Ireland)