Allfirst Chairman Frank Bramble was to have retired in June. He is now to leave the AIB board immediately.
Bramble, 53, will retire from his position at Allfirst on April 30th. He will receive a lump sum of around $2.9m and a reduced pension of $6,000 over month. It is thought that Bramble commuted a pension of about $60,000 per month to take the up-front cash sum.
Mr Bramble will be replaced as chairman of Allfirst by Eugene Sheehy, who is a former Managing Director at AIB.
Scandal Hit Bank - Chairman Retires
Allied Irish Banks was hit by one of the world's biggest rogue trading scandals when John Rusnak lost $691m at US subsidiary Allfirst.
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