Marilyn by wuyunyi


									JULY 2012

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

Foul-ups, scandals and over-charging – lessons still to be learned!
SHORT STORIES                                   NEWS REVIEW                             SPECIAL FOCUS                                          IBOA NEWS

                                                  McCARTHY’S                            NEW FACES ON                                M&S SET TO
                                                  NEW NICHE                             BOI BOARD                                   LAUNCH BANK
                                                  Former Ulster Bank Chief Executive,   Bank of Ireland’s international investors   Marks and Spencer prepares to offer
                                                  Cormac McCarthy, has taken a new      make their presence felt on the Bank’s      a full range of retail banking services
                                                  job working for Paddy Power           board.                                      to its customers.
                                                                        See Page 4                               See Page 5                                  See Page 6

                                                  COLOUR SECTIONS

                                                  NEWS REVIEW                           SPECIAL FOCUS                               IBOA NEWS
                                                  • RBS IT meltdown paralyses           •    Going for gold                         •   Boss’s bogus bonus bogey
                                                    Ulster Bank                         •    Crime seldom pays                      •   Duffy plans smaller AIB
                                                  • Diamond in the Rough                •    Blowing the whistle                    •   Hanna and Barrett return
                                                  • ‘Appy Days                          •    Busting jargon                         •   Bank Secretaries Conference
                                                  • Mis-selling scandal in Republic     •    Health and safety at work              •   Robert Thompson bows out
                                                                 See Pages 8-15                          See Pages 16-23                           See Pages 24-31

                          Spectrum is published by IBOA – The Finance Union,
                              IBOA House, Stephen Street Upper, Dublin 8
                                and 29, Malone Road, Belfast. BT9 6RU.
                                   Telephone: 00353-1-4755908 and

                                  General Secretary: Larry Broderick
                                Honorary Secretary: Tommy Kennedy
                               Communications Manager: Séamas Sheils
                                                                                        WORK AGENDA                                 LIFE & STYLE
                                                                                        •    Banking on future at BOI               • Marilyn Monroe – more than
                                Advertising enquiries to Anna O’Doherty                 •    Legacy from Dark Ages                    an empty icon
                                 or Louise O’Donnell in IBOA House.                     •    AIB’s brave new world                  • Olympic Torch-ure!
                                  Spectrum is printed on recycled paper and             •    Ulster says sorry                      • Level of personal debt in the
                                 wrapped for posting in oxy-degradable polythene        •    NIB branch closure concerns              Republic rises
                                   at W & G Baird, Antrim, Northern Ireland.                             See Pages 40-47                          See Pages 48-53

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

                                         Top bankers pass test
                                         on fitness and probity
                                         Central Bank tells 2008 veterans, Murphy
                                         and Boucher, that they can continue
  The Co-operative Bank is favoured to
  acquire 632 branches being sold off    S   enior executives of Irish
                                             banks who were directors
                                         when the State guarantee was
  by Lloyds Banking Group.
                       See Page 7        introduced have been given a
                                         clean bill of health by the
                                         Republic’s Central Bank.
                                             The finding, which covers
                                         Bank of Ireland 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:
                                             It said it had no reason to                                opinion on the material avail-
 •    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                                    the Central Bank at this time.”
 •    Back to the future
 •    Diversity at work
 •    Lionel Richie plays country
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                   See Pages 32-39
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                                                                                                                                           IBOA THE FINANCE UNION

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                   See Pages 54-63

                                                                                                 july 2012                 SPECTRUM                        3
SHORT STORIES                                      NEWS REVIEW                             SPECIAL FOCUS                                   IBOA NEWS

                            New ILO chief: Guy Ryder

                          Ryder to
                          take ILO’s
                          top job
                          British trade unionist, Guy        Super-hero?: Cormac McCarthy at the Paddy Power AGM in May. (Photo: Laura Hutton/Photocall Ireland)
                          Ryder, will become the next
                          Director-General of the Inter-
                          national Labour Organisation
                          (ILO) in October when he
                          succeeds Juan Somavia, the
                                                           McCarthy finds niche

                          former Chilean diplomat          Paddy Power appoints new finance officer
                          who has headed the Geneva-
                          based body since 1998.
                              With a global remit to            lster Bank’s former           of Coral’s – prompting the          ment with the bookmakers,
                                                                Chief Executive Officer,      observation that these rather       the future is far from being a
                          pursue agreed international
                                                           Cormac McCarthy, has been          unsuccessful practitioners of       safe bet for the 950 Ulster
                          workplace standards, the
                                                           appointed as chief financial       casino capitalism may have          Bank staff who may lose
                          ILO is the only United
                                                           officer of bookmaking firm,        at last found their niche.          their jobs by the end of
                          Nations agency that is not       Paddy Power.                            Although McCarthy has          2013 – on top of a similar
                          run by governments alone.            McCarthy had previously        now secured gainful employ-         number who left the Bank
                              Ryder, who was the first     been appointed as a non-                                               in 2010 – largely as a result
                          General Secretary of the         executive director at Paddy                                            of the deterioration in the
                          175-million strong Inter-        Power last August.                                                     Bank’s finances during

                          national Trade Union Con-            His appointment to the                                             McCarthy’s stewardship.
                                                                                                       You could
                          federation, will be the first    bookmaking firm mirrors                     NOT make                       Ulster Bank’s parent, RBS,
                          trade unionist to serve as       the recent appointment of                                              has set aside around E9bn to
                          Director-General since the       former HBOS boss, Andy                                                 cover the losses on its Irish
                                                                                                         it up!
                          ILO was founded in 1919.         Hornby, as Chief Executive                                             loan book.

    4                     SPECTRUM                     july 2012
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

  New faces for Bank                                                                                 with a further seven branches
                                                                                                     in South East England – to
                                                                                                     bring its total workforce to
  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
       of the key players in      and CEO of Toronto-based        plc, where he served as            branch in London in 2010,
  the investment consortium       Fairfax Financial Holdings      Group Executive Director –              Though still very much
  which acquired a E1.1bn         Limited, a publicly traded      Insurance and Scotland,            a minor player, Metro Bank’s
  stake in Bank of Ireland last   financial services 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
  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.

                                                 provides a range    will donate between
                                                          of special deals for IBOA            10% and 20% of its agency
                                                          members.                             commission to a charity,
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                                                          sites for details of the latests     organisation of your choice
                                                                                                                                       IBOA THE FINANCE UNION

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                                                          nations worldwide, as well               Check the latest offers
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                                                          our dedicated call centre,           on!

                                                                                             july 2012                SPECTRUM              5
SHORT STORIES                                          NEWS REVIEW                           SPECIAL FOCUS                             IBOA NEWS

                          Banks must be
                          allowed to fail –
                          says EU
                          B   anks will be allowed to fail if EU
                              member States adopt new measures
                          proposed by the EU Commission to avoid
                          a repeat of the current banking crisis.
                              Under the Commission’s plans to
                          break the “too big to fail” culture in Euro-
                          pean banking, if a bank that poses no
                          systemic risk to the national or inter-
                          national economy gets into difficulties,
                          it will simply be allowed to close.
                              However, if its failure is likely to result
                          in a serious threat to the stability of
                          financial markets, the institution will be
                          propped up in part by making unsecured
                          creditors of the bank – such as bond-
                          holders and shareholders – take losses
                          rather than requiring the State to bail out
                          the institution.
                                                                              M&S to offer full
                                                                              banking services

                                                                              Retailer to offer current accounts

                                                                              and mortgages via link with HSBC
                                                                                  ritain’s largest clothing retailer, Marks & Spencer, plans to open 50 bank
                                                                                  branches in its stores within two years, with the first branch opening this
                                                                              month at the group's flagship store at London’s Marble Arch. Banking infra-
                                                                              structure will be provided by HSBC.

                                                                                  By mirroring usual store opening     putting the customer at the heart of
                                                                              hours, the M&S Bank branches will        the proposition and delivering the
                                                                              be open twice as long as traditional     exceptional service that sets us apart
                                                                              high street banks – thus enabling        from the competition.”
                                                                              customers “to bank while they shop,          M&S Bank expects to employ 500
                                                                              seven days a week,” according to a       staff by the end of 2013 – including
                                                                              company statement.                       400 in customer-facing roles in its
                                                                                  Customers will also have access      branch network and around 100 at its
                                  Special Offer for                           to online banking around the clock,      head office in Chester.
                                                                              as well as to UK-based call centres.         Staffed by a specialist team, each
                                                                                  Over 3 million customers already     M&S Bank branch is planned to

                                   IBOA members
                                                                              use M&S Money, Marks’ existing           include private meeting areas as well
                                                                              joint venture with HSBC – providing      as self-service banking points and a
                                             For individuals:

                                                                              a range of financial services, includ-   foreign exchange facility.
                                   Save E3 off full admission price

                                                                              ing credit cards and insurance. The          While challenging the traditional
                                 For families: Supersaver deal of E20

                                                                              M&S Bank will take this to a new         high street banks, the M&S move will
                                  for family of 4 (normal price E35)

                                                                              level by offering current accounts and   also steal a march on Tesco, Britain’s
                                Offers may not be used in conjunction

                                                                              eventually mortgages, too.               largest supermarket-based financial
                                  with any other offer or promotion.

                                                                                  According to the company’s Chief     services provider – which recently
                             National Sea Life Centre, Bray Seafront, Bray,
                                                                              Executive, Marc Bolland, the M&S         opted to put plans for a major expan-
                                Co. Wicklow. Tel. 00-353-1-2866939
                                                                              Bank “will be built on M&S values;       sion in services on hold.

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

                                                                                                              Sky blue thinker?: Gary
                                                                                                              Hoffman, NBNK Chief Executive

     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
 with the sale of 632 branches          The Financial Services           has come as a major dis-             though NBNK lost £23m
 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.
 632 branches – known as            funding reserves to stay                 NBNK is fronted by Lord                 You could
 the Verde group – in order to      within regulatory rules.             Levene, the former chair-                                    
 comply with EU conditions              Lloyds has said that the         man of the insurance under-
                                                                                                                     NOT make
 for receiving State aid.           Verde business would have            writers, Lloyd’s of London,                   it up!
      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 Northern Rock,
 operative Bank will acquire        of a run on the bank.                Gary Hoffman.                             Hoffman’s annual salary
                                                                                                              of just under £1m follows

                                Isn’t it time you
                                                                                                              a £1.8m signing-on fee to
                                                                                                              smooth his transfer from

                                joined the club?
                                                                                                              Northern Rock, where he

                                                                                                              also served as CEO.
                                                                                                                   Reports that he also
                                                                                                                                                IBOA THE FINANCE UNION

                                                                                                              received £0.5 million from
                                OPENING HOURS:                                                                his former employer while
                                The Club opens at 5:30pm from Monday-Friday.                                  on six months’ “gardening

                                                                                                              leave” led some commen-
                    AVAILABLE FOR PARTIES:                                                                    tators to question if any
                    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 e-mail:                                                      be quite so commercially

                                                                                                  july 2012                    SPECTRUM         7
SHORT STORIES                               NEWS REVIEW                                SPECIAL FOCUS                                      IBOA NEWS

                                                                                                                               APPY DAYS
                                                                                                                               The growth of mobile banking –

                                            DIAMOND IN THE ROUGH
                                                                                                                               based around the internet – has been
                                                                                                                               gathering a seemingly unstoppable
                                                                                                                               momentum in recent years. So will the
                                            But British banking’s problems are about the culture – rather than the preceived   RBS IT debacle now lead to a more
                                            failings of one individual.                                                        measured approach?
                                                                                                             See Page 11                            See Page 13

                                                                                                                               GUPTA GUILTY
                                                                                                                               Retired head of consultants, McKinsey,

                                            MIS-SELLING SCANDAL
                                                                                                                               and ex-Goldman Sachs board member,
                                                                                                                               Rajat K. Gupta has been found guilty
                                                                                                                               of conspiracy and securities fraud for
                                            The Irish Central Bank’s report that a number of financial institutions have       leaking secrets to a hedge fund man-
                                            mis-sold payment protection insurance to customers is a further hammer blow.       ager – following a major US Govern-
                                                                                                             See Page 6        ment probe into insider trading.

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

 RBS IT meltdown
 paralyses Ulster                                                                                                           

 W      ith around half of Ulster Bank’s
        1.8 million customers believed
 to have been affected by the disrup-
                                                 While much of the media focus
                                             on the hardships caused by Ulster
                                             Bank’s difficulties has understandably
                                                                                          of the Bank’s frontline staff – which has
                                                                                          received an overwhelmingly positive
                                                                                          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-
                                                                                                                                      IBOA THE FINANCE UNION

 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                                                 ⁄

                                                                                          july 2012                  SPECTRUM              9
SHORT STORIES                                       NEWS REVIEW                               SPECIAL FOCUS                                            IBOA NEWS

                               The Bank’s self-imposed deadlines
                          for resolving the issue came and went
                          with such frequency that when the Bank
                          was finally in a position to provide more
                          definitive forecasts, the message had
                          lost credibility.
                               While there was some appreciation
                          among the public that accidents in the
                          remote RBS IT systems were outside
                          the control of Ulster Bank, it was clear
                          that, whatever contingency plan Ulster
                          Bank management may have had to
                          handle the fall-out from the original
                          problem, was completely inadequate.
                          There was, in the eyes of many
                          commentators, no ‘plan B.’
                               By the time Ulster Bank finally got
                          on top of the situation, the reputational
                          horse had long since bolted. The task
                          of rebuilding trust with its customers
                          is likely to take some time.
                               A comprehensive compensation
                          scheme is a start. The Bank has con-
                          firmed that no customer, or customers        Regulators: Staff from the Central Bank (left to right) Head of Payments Paul Molumby, Head of
                          of other banks, will be left permanently     Banking Supervision, Shane O'Neill and Director of Consumer Protection, Bernard Sheridan, pictured on
                                                                       their way into Leinster House to attend the Oireachtas Committee on Finance, Public Expenditure and
                          out of pocket. It has also contacted
                                                                       Reform to discuss the safeguards in place to mitigate technical difficulties in the Irish financial services
                          credit reference agencies to ensure that     sector. (Photo: Laura Hutton/Photocall Ireland).
                          customers’ credit ratings will not be
                          adversely affected.                          crisis, the regulator was also shown to                     It also remains to be seen whether
                               Customers are to be compensated for:    lack the expertise to assess the fitness of             managements in other institutions

                          • Overdraft fees (both for being over-       the IT systems in use across Irish bank-                with ambitions for a more automated
                               drawn and exceeding a credit limit)     ing – relying, instead, on the evaluations              approach to retail banking will
                          • Overdraft interest                         provided by the institutions themselves.                reconsider the scope of their plans in
                          • Late-payment fees and interest on              Public representatives said that,                   the light of the Ulster Bank crisis.
                               mortgages, loans and credit cards       with information technology playing                         Another lesson to emerge in recent
                          • Interest wrongly charged on late           such a crucial role in financial services,              weeks is that, even in the face of such
                               payments                                the Central Bank should be able to                      an unprecedented crisis, the quality of
                          • Cash-advance fees and interest on          audit its use and effectiveness in all                  the relationships between customers and
                               credit cards                            financial institutions.                                 bank officials improved immeasurably
                          Anyone affected by the meltdown –                                                                    when the high pressure sales approach
                          whether Ulster Bank customers or not                    Lessons of the Crisis                        was dropped and customers’ real needs
                          – have been advised to keep written          “The Ulster Bank crisis should also pro-                were addressed.

                          details of any losses and present this as    vide pause for thought in the accelerat-                    Customers were no longer put under
                          evidence to the bank.                        ing rush towards automated banking,”                    pressure to buy financial “products”
                               According to UK banking experts, the    said IBOA’s Larry Broderick.                            they did not need, while staff were no
                          total compensation costs for the three            “The frailties of the RBS IT system                longer put under pressure to sell
                          RBS banks – NatWest, Ulster and Royal        should at least serve as a warning to                   “products” which they already knew
                          Bank of Scotland – could exceed €130m.       other institutions of the need to maintain              the customer did not want.
                               The implementation of a com-            and overhaul their IT infrastructure.
                          prehensive “restitution” plan was one             “More thoughtful banking leaders                           Real Service to Customers
                          of the key demands of the Republic’s         might also reflect on the importance of                 Real customer service – addressing
                          Central Bank whose Director of Con-          enabling customers to interact with                     the customers’ actual needs rather than
                          sumer Protection, Bernard Sheridan,          human beings rather than machines.                      their presumed needs – has once again

                          told the Oireachtas Finance Committee             “The staff of Ulster Bank have                     become the order of the day. It has
                          recently that Ulster Bank’s contingency      played a key role in the crisis: they will              become a case of “back to the future,”
                          planning was “self-evidently…appall-         also be vital in persuading customers                   even though it has taken a near melt-
                          ing,” and its approach to communicat-        to remain when the dust settles,” he said.              down to achieve it.
                          ing with customers “exasperating.”                It remains to be seen how the need                     But for how long? When “normal
                               However, the Central Bank, itself did   to rebuild the business leads man -                     service” resumes, will the Bank’s blind
                          not escape criticism for its response to     agement to re-assess its job reduction                  obsession with sales resume with it?

                          the Ulster Bank crisis. Aside from being     programme. But the timing could hardly                  Many members of staff and many
                          castigated by public representatives for     be worse for trying to implement major                  customers hope not.
                          the delay in commenting publicly on the      job cuts across the Branch network.

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

           Exit strategy: Barclays’ 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
 …but problems go far wider than one man
 A   s if triggering a major
     economic crisis which has
 sent the British economy into a
                                        At a hearing in the US
                                        Congress last month
                                                                      their own pockets from trading
                                                                           Barclays was fined a total of
                                                                                                                their swords in the wake of the
                                                                                                                scandal, Diamond’s initial re-
                                                                                                                fusal to waive a pay-off, said to
                                        into how JP Morgan
 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.
 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                                               ⁄

                                                                                                                 Interest rate fix
 rapidly paled into insignificance      “It seems to be that          manipulated the LIBOR in the
 (except in Ireland, for obvious                                      hope of increasing their trading
                                                                                                                                                           IBOA THE FINANCE UNION

                                        every big trading
 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
 their own institution or to line                                     to fall – or were they pushed? – on        gain. All dispute the claims.

                                                                                                       july 2012                        SPECTRUM                11
SHORT STORIES                                         NEWS REVIEW                                   SPECIAL FOCUS                                    IBOA NEWS

                                                                                                                                                     ROUGH TRADE
                                                                                                                                                     The FSA report on Barclays
                                                                                                                                                     details various messages
                                                                                                                                                     sent between the bank’s
                                                                                                                                                     traders and “submitters” –
                                                                                                                                                     whose job was to send
                                                                                                                                                     accurate information on
                                                                                                                                                     interest rates to the British
                                                                                                                                                     Banking Association. The
                                                                                                                                                     submitters are not supposed
                                                                                                                                                     to be influenced by traders.

                                                                                                                                                     Trader: When I retire and
                                                                                                                                                     write a book about this
                                                                                                                                                     business, your name will be
                                                                                                                                                     written in golden letters.
                                                                                                                                                     Submitter: I would prefer
                                                                                                                                                     this not [to] be in any book!

                                                                                                           King’s counsel: Bank of England,          Submitter: Hi all, just as an
                                                                                                           Governor, Mervyn King, has launched       FYI, I will be in noonish on
                           Who could imagine that banking hooligans would bring football into disrepute?   a broadside at British banking culture.   Monday.
                                                                                                                                                     Trader: Noonish? Who’s
                          to be unfit to remain in a key role      would lead to a re-evaluation               King highlighted a number             going to put my low fixings
                          in a major institution, should           of this culture, banking bosses         of key issues including “shoddy           in? hehehe.
                          nevertheless be permitted to play        in both Britain and Ireland             treatment of customers,” and
                          a pivotal role in the appointment        appear to have learned noth-            “deceitful manipulation of one            Submitter: [A manager
                          of its next leader.                      ing. It seems that there is no          of the most important interest            has] asked me to put it
                               As the LIBOR scandal was            ‘Plan B’ – only more of the             rates” as well as excessive               lower than it was yesterday

                          breaking, the Financial Services         same destructive policies and           remuneration for senior execu-            …to send the message
                          Authority announced that it had          practices that led to the crisis        tives who are paid bonuses                that we're not in the shit.
                          reached a settlement with four           in the first place.                     which are alone worth many
                          banks – Barclays, RBS, Lloyds                                                    times the average salary paid to          Submitter to manager:
                                                                       In a trenchant commentary
                          and HSBC – after finding that                                                    employees in Britain.                     We are therefore being
                                                                   on recent developments in the
                          they had mis-sold products to                                                        “What I hope is that every-           dishonest by definition and
                                                                   UK, the Governor of the Bank of
                          protect small businesses against                                                 one now understands that some-            are at risk of damaging our
                                                                   England, Mervyn King, made an
                          a rise in interest rates.                                                        thing went very wrong with the            reputation in the market
                                                                   angry attack on British banking
                               The small print on many                                                     UK banking industry and we                and with the regulators.
                                                                   culture earlier this month, saying
                          of these products provided for                                                   need to put it right…We need a
                                                                   that something had gone very
                          penalties to be charged if interest

                                                                   wrong with an industry which he         real change in the culture of the         Trader to manager, com-
                          rates fell. When this came to pass,
                                                                   lacerated for resorting to “deceit-     industry," he said.                       plaining about a submit-
                          these businesses incurred sub-
                                                                   ful” methods to make money.                                                       ter: [He is putting in] the

                          stantial penalties – putting their
                                                                                                                                                     highest Libor of anybody
                          viability at risk.
                                                                                                                                                     …He's like, I think this is
                              This mis-selling scandal
                                                                     So what is the LIBOR?                                                           where it should be. I'm
                          came a year after it was re-
                                                                                                                                                     like, dude, you're killing us.
                          vealed that the vast majority of
                                                                     LIBOR is an interest rate that is based on what banks are                       Manager to trader: Just
                          payment protection insurance                                                                                               tell him to keep it, to put it
                          policies bought in Britain had             charged when they borrow from other banks. It stands for
                                                                     the London Inter Bank Offered Rate and is overseen by the                       low.
                          been mis-sold by financial
                          institutions which subsequently            British Bankers’ Association chaired by Marcus Agius, who
                                                                     also happens to be the chairman of Barclays.                                    External trader to a
                          had to set aside £5.5bn (E6.6bn)                                                                                           Barclays trader, asking for
                          to compensate customers.                       While the price of ordinary mortgages is based on Bank of
                                                                                                                                                     a lower Libor submission:

                              The excessive sales culture            England base rates, the rate borrowers pay on many other
                                                                     products depends on the LIBOR. These include sub-prime                          If it comes in unchanged
                          within the banking sector –                                                                                                I'm a dead man.
                          which encourages the sale of               mortgages offered to people with poor credit ratings, certain
                                                                     credit cards, personal loans and loans to business.                             Barclays trader: promises
                          inappropriate products to ill-                                                                                             to ‘have a chat.’
                          informed customers – continues                 Consumers could have been affected if they had a financial
                                                                                                                                                     External trader to Barclays
                          to cause untold reputational               product whose price was linked to LIBOR. The difficulty faced
                                                                                                                                                     trader later that day:
                          damage to the financial services           by consumers is proving they have suffered a loss as a result
                                                                                                                                                     Dude. I owe you big time!
                          sector in these islands.                   of their bank’s actions. LIBOR changes every day and the
                                                                                                                                                     Come over one day after
                              While many hoped that                  regulators said, while Barclays attempted to manipulate it,                     work and I’m opening a
                          the financial crash in 2008                it did not necessarily succeed.                                                 bottle of Bollinger.

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

 Appy days
 Irish banks include
 smartphone option in
 online banking services
 I  rish banks are increasingly embracing the growing potential of
    smartphone technology to enhance their capacity to offer online
 services 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
     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
 regularly bank online while 17%     smartphone users in Ireland                                       working, the Ulster Bank app
                                                                         The IBOA is exploring
 use telephone banking.              today – of whom 63% are under                                     provides ‘mini-statements’ for
                                                                         the possibility of creating
     The same report notes that      35 years of age – the potential                                   the last six transactions for all
                                                                         a free app which could
 80% of all money transfers are      uptake for mobile banking is                                      accounts managed through its
                                                                         provide members with                                       
 currently conducted through         already significant and likely to                                 Anytime Internet Banking facil-
                                                                         exclusive access to a
 online and telephone banking        become more so.                                                   ity including current accounts,
                                                                         range of IBOA services.
                                                                                                       savings accounts, credit cards

                                                                               Delegates at the
                                                                                                       and loans.
                                                                            cent Bank District
                                                                             cretaries’ Conference
                                                                                                          It also allows transfers of
                                                                                                       funds between accounts as well
                Parnell Street Dublin 1

                                                                             Galway saw a work-
                                                                            g demonstration of a       as payments to designated friends
                                                                            pectrum’ app –show-        and family members – along
                                                                            g how 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
                                                                                                                                              IBOA THE FINANCE UNION

                                                                         into multi-media pre-         well as special alerts to warn if
                                                                                                       the customer exceeds self-

                                                                         sentations on an i-Pad
                                                                         tablet computer.              imposed balance limits.
                                                                                                           Both National Irish Bank and
                 for IBOA members
                                                                               “New advances in
                                                                         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-
                                                                                                       of all their accounts as well as
                  card at the pay point                                  munications Manager,
                                                                         Séamas Sheils.                their transaction history for up

                                                                                                 july 2012                  SPECTRUM               13
SHORT STORIES                                         NEWS REVIEW               SPECIAL FOCUS          IBOA NEWS

                                                                     Small Ads – Big Choice
                          to thirteen months. The apps
                          also enable customers to transfer
                          money and pay bills.
                               According to AIB, 200,000
                          downloads have taken place since

                                                                      Holiday Apartments
                          its app was launched in October
                          2011. The app provides access to
                          the most popular AIB Internet
                          Banking services.

                                                                            to Rent
                               Users can check account
                          balances and view the 100 most
                          recent account transactions over
                          six months. It also allows bill
                          payments, transfers to third party
                          accounts and between the cus-
                          tomer’s own AIB accounts.
                               The app also allows users to

                                                                     Adverts placed by IBOA members
                          set up, amend or cancel a stand-
                          ing order online and to top up

                                                                           for IBOA members
                          their mobile phone online or
                          register for top-up by text.
                               In just a few months, since its
                          launch in May, the Bank of Ireland
                          app has been downloaded by

                                                                            Check out the IBOA websites:
                          over 65,000 of the Bank’s 500,000
                          customers currently registered for
                          online banking with Banking 365.
                               The app allows users to view

                          all account balances and a history
                          of all transactions since the last
                          statement. The user can also pay

                          bills and transfer money to the
                          payees registered on the user’s
                          Banking 365 profile.
                               All of these apps are avail-
                          able free of charge from the
                          Apple App Store or Google Play
                          Store. They all offer facilities
                          to locate your nearest branch or
                          ATM – as well as general contact

                                                                         You’ll need your IBOA membership
                          information for Branches and
                          Head Offices. Most banking apps

                                                                           number to access these pages.
                          also include a currency exchange

                               The popularity of smart-
                          phone apps has undoubtedly
                          assisted the development of
                          e-banking. However, the pro-
                          liferation of new technology
                          has been seen in some quarters
                          as the basis for a new model of
                          banking which would seek to
                          minimise human interaction.
                               Recent events at Ulster
                          Bank and its parent, RBS, have

                          provided two important and
                          timely lessons,” says IBOA’s
                          Larry Broderick, “firstly that
                          technology is unpredictably
                          fallible; and secondly that front-
                          line staff constitute a bank’s most
                          valuable asset in maintaining

                          its most crucial relationship –
                          with its customers.”

    14                    SPECTRUM                       july 2012
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
      Republic 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                                   tract — even though most of        and consistent approach to
                                    of credit for a specified
 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
     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
                                                                                                                                        IBOA THE FINANCE UNION

 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.

                                                                                             july 2012                 SPECTRUM              15
SHORT STORIES                                NEWS REVIEW                                   SPECIAL FOCUS                                         IBOA NEWS

                                                                                                                                     TIME TO CUT
                                                                                                                                     THE JARGON
                                                                                                                                     Financial institutions have been told by
                                                                                                                                     the Central Bank to use plain English
                                                                                                                                     with consumers and to explain policies
                                                                                                                                     and products more clearly.
                                                                                                                                                             See Page 20

                                             CRIME SELDOM PAYS
                                             Apart altogether from issues of ethics and criminality, robbing banks is generally
                                             a poorly paid career, according to a recent study by a team of economists from
                                             the Universities of Sussex and Surrey. The report also found that often the loss to
                                             the bank from a robbery may be less than the cost of installing some of the security
                                             devices designed to deter raiders. This may explain why some institutions have
                                             appeared reluctant to invest in security.
                                                                                                                See Page 18

                                                                                                                                     TIME TO SIT
                                                                                                                                     Standing for long periods at work
                                                                                                                                     while pregnant may curb the growth
                                                                                                                                     of the developing foetus, according
                                                                                                                                     to a new report from researchers in
                                                                                                                                                         See Page 22

                          Sometimes I
                          think it would
                          be easier to
                          avoid old age,

                          to die young,
                          but then you'd     BLOWING THE WHISTLE                                                                     CONTINUAL
                          never complete
                                             The recent publication by the Government in the Republic of the draft outline of
                                                                                                                                     CHANGE BAD
                          your life, would   the Protected Disclosures in the Public Interest Bill 2012 marks a vital step forward   FOR BUSINESS
                          you? You'd         in offering the prospect of protection for workers who come forward to blow the
                          never wholly       whistle on wrongdoing, according to the Irish Congress of Trade Unions.                 Employees need time to adjust after
                          know you.               If enacted, this legislation will be a major advance on the previous patchwork
                                             of protections that has left many workers at risk.
                                                                                                                                     change, not be thrust again and again
                                                                                                                                     into new periods of uncertainty.
                           Marilyn Monroe                                                                         See Page 19                              See Page 23

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

 Olympic suppliers
 bid to cash in on
 London Games
 by abusing
 workers’ rights

                                                           The Olympic countdown clock in Trafalgar Square, London
      s the global media prepares   workers said they were unable                                      now in the process of develop-
      to focus on possible drug     to wear the safety masks to                                        ing training for some workers,
 abuse by athletes as London        protect against dust because of        brands and                  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                                        of their rights or how to use the

                                                                           The following brands
 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-
 many products that will feature    should increase the pressure                                       tions – mainly in the UK and
                                                                           investigated in the
 prominently during the Games.      on the International Olympic                                       China – others are unidentified
                                    Committee (IOC) to improve             Playfair 2012 report:
     A new report reveals that                                                                         so that it is impossible for local
 workers making London 2012         the conditions for workers in                                      unions to verify its claims that
                                    Olympic supply chains in the           China                       its suppliers are respecting the
 Olympic sportswear for top
                                    run up to the next games in Rio        • Adidas                    human rights of workers.
 brands and high street names
 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
 plain about working conditions.    Olympic and Paralympic Games           • Saucony                   there have been goods made in
     Researchers working for the    (LOCOG) has gone further than          • The North Face            Olympic supply chains where
 Playfair 2012 campaign visited     any of its predecessors in re-         • Under Armour              the workers were treated in a
 ten factories – eight of which     quiring suppliers and licencees
                                                                                                       way that cannot be described
 were producing Olympic goods       to comply with international
                                                                           Sri Lanka                   as ethical,” said TUC General
                                    standards and by developing a
 – in China, the Philippines and                                           • Adidas                    Secretary, Brendan Barber.
                                    complaints mechanism so that
 Sri Lanka, and talked to 175                                              • Ann Taylor                     “We hope that the IOC
                                    violations can be reported,
 workers about their working                                               • Columbia                  can benefit from the LOCOG
                                    investigated and resolved.
                                                                                                                                            IBOA THE FINANCE UNION

 conditions.                                                                   Sportswear              experience and ensure that the
                                        However, the report notes,
     The report, Fair games?:                                              • Lane Bryant               lessons learned in 2012 lead
                                    “although the majority of pro-
 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                                         conditions for those producing
 documents a range of working                                                                          sportswear or merchandise in
                                    “Olympism seeks to create a            • Next
 hours, pay and safety abuses.                                                                         the run up to Rio 2016,” he
                                    way of life based on... respect        • Nike
     In China, for example, at an                                                                      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
 Olympics sponsor, Adidas,                        Olympic Charter 2011     • Victoria’s Secret         chains to take on board.”

                                                                                              july 2012                    SPECTRUM              17
SHORT STORIES                                            NEWS REVIEW                        SPECIAL FOCUS                               IBOA NEWS

                            Barrow and Parker: Despite Hollywood’s
                            often romantic portrayal of bank robbers, the reality
                            is far from glamorous and rarely as lucrative for
                            the perpetrators.

                          Crime seldom pays –

                          and certainly not very much!
                          British researches study economics of bank robberies
                          A    part altogether from issues
                                          The report
                               of ethics and criminality,
                          robbing banks is generally a
                                          found that often
                                                                                           economic model for a career in
                                                                                           bank robbing – balancing the
                                                                                           raider’s gains against potential
                                                                                                                                  Of these, fast-rising secu-
                                                                                                                              rity screens, which are present
                                                                                                                              in only 12% of British banks
                          poorly paid career, according                the loss to the     losses.                            appeared to be most effective,
                          to a recent study by a team of                                       One of these potential         reducing the probability of a

                          economists from the Universities                                 losses was the possibility of      successful raid by one third.
                                                                       bank may be less
                          of Sussex and Surrey.                        than the cost of    being arrested and convicted –         However, since the financial
                              The average proceeds from                                    which, according to the study,     losses to banks through raids
                          a bank robbery in the UK were                                    was most likely after the fourth   are reasonably low – compared
                                                                       installing some
                          £20,331, with a third of rob-                of the security     raid – with a long prison sen-     with the cost of installing
                          beries yielding nothing at all.                                  tence the typical outcome.         additional fast-rising screens
                              The average takings for                                          In conducting their “cost-     – this might explain their low
                                                                       devices designed
                          each raider involved in a                    to deter raiders.   benefit analysis” of bank raids,   prevalence.
                          successful raid were around                                      the economists also identified         Although the authors
                          £12,706.60 – or less than six                                    factors which might influence      recognise that bank robberies

                          months' pay at the average                   This may            the success or failure of bank     involve other costs – such as
                          wage.                                                            raids.                             social and psychological ones
                              The results were published                                       These factors include the      –– it may be the case that some
                                                                       explain why
                          in Significance, the magazine                some institutions   number of raiders involved,        institutions have adopted a
                          of the Royal Statistical Society                                 the use of firearms, the activa-   rather simplistic accountant’s
                          and the American Statistical                                     tion of alarms, the number of      approach to the issue which
                                                                       have appeared
                          Association.                                 reluctant to        bank staff and customers pres-     calculates that the protection
                              Based on data supplied by                                    ent during the event, and the      of staff and customers rates
                          the British Bankers' Association,                                deployment of bank security        lower than the protection of
                                                                       invest in
                          the researchers constructed an               security.           measures.                          the bank’s bottom line.

    18                    SPECTRUM                           july 2012
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
 key ingredient in the change in operating           T    he recent publication by the Government in the Republic of
                                                          the draft outline of the Protected Disclosures in the Public
                                                     Interest 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
                                                     will be a major advance on the      re-instated in the job until the
 during the latter years of the ‘Celtic Tiger        previous patchwork of pro-          case is finally decided.    
 era’, then IBOA’s concerns about troubling          tections that has left many             Without this vital protection,
                                                     workers at risk of falling be-      a whistleblower would most
 developments in Irish banking might have            tween the gaps in protection.       likely be at risk of financial ruin
 been taken more seriously by the authorities.           The draft outline incorpo-      – facing the prospect of being
                                                     rates many of the recommen-         out of work and waiting for
     A climate of fear has continued to ensure       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.
                                                     line with the international best        There can be no doubt that
                                                     practice.                           fear of losing their jobs would
 come forward.
                                                         However, according to the       prevent workers back from
                                                                                                                               IBOA THE FINANCE UNION

     This climate ensures that most bank
                                                     ICTU, the proposed protection       raising concerns.
                                                     against reprisals by employers          To be credible the new
 staff believe that if they stick their necks out,
 there is every likelihood that they would           falls short of what is required     legislation needs to protect
                                                     and compares unfavourably           workers in reality as well as on
                                                     with international and best
 not only be managed out of their current
                                                                                         paper, says Congress.
 employment but also be effectively black-           practice standards.                     The absence of this crucial
 listed in terms of future employment in                 If whistle-blowers in the       provision is a major omission,
                                                     UK are threatened with dis-         according to Congress, especially
                                                     missal, for example, they can       since the draft legislation has
 Irish banking.
     This must change.                               apply for “interim relief” –                                         ⁄

                                                                                  july 2012                   SPECTRUM              19
SHORT STORIES                                       NEWS REVIEW                           SPECIAL FOCUS                               IBOA NEWS

                          taken UK law as a blueprint in
                          all other matters.
                              Congress is also keen that
                          the law should protect whistle-
                          blowers against long-term and
                          enduring discrimination in the
                          form of blacklisting by future
                              Congress has also argued
                          that there should be no service
                          requirement or qualification
                          period before the protection
                          for whistleblowers kicks in:
                          “workers should not be forced
                          to keep quiet waiting until they
                          are covered by the legislation,”
                          says the ICTU.
                                 Code of Practice
                          Congress has also strongly
                          urged Government to develop
                          a Statutory Code of Practice to
                          underpin the operation of the
                          legislation in the workplace.
                              This code should set out
                          model policies and procedures
                          to be put in place – including
                          measures to be taken to protect
                          the confidentiality of whistle-
                          blowers, procedures for
                          making internal disclosures
                                                               No more jargon

                          and formats for reporting back
                          on investigations.
                              Union Representation
                          Congress believes that workers       If in doubt, leave it out – or find a clearer
                          should be free to seek help,
                          advice and representation from       way to say it – says regulator
                          their union. Like the principle of
                          privilege between lawyers and            inancial institutions have been told by the Irish Central Bank to use plain English
                          their clients, the ICTU argues           when dealing with consumers. They should also make a special effort to explain
                          that when whistleblowers             policies and products to older people or the less educated.
                          discuss their disclosures with           In a review of the implementation of        many people have difficulties understand-
                          their trade unions in order to

                                                               the new consumer protection code intro-         ing common financial terms – such as APR,
                          get support, information or          duced at the start of the year, the regulator   equity and compound interest – as well as
                          representation, then this should     found that most institutions are making         adding up a bill or understanding a pay slip.
                          also be considered to be a           satisfactory progress in training staff to deal     A joint initiative between the National
                          protected disclosure under the       with the new rules.                             Adult Literacy Agency (NALA) and EBS,
                          new legislation.                         However, some areas are in need of tries to tackle this problem
                                 Vicarious Liability           improvement, according to the Central           by providing tools to help users understand
                          To ensure that whistleblowers        Bank – such as the use of plain English         more about money and financial matters so
                          are also protected from any          to explain financial terms properly so          that when they make important financial
                          adverse treatment by their           that consumers have clear and accurate          decisions they understand what they are
                          employer’s customers and             information.                                    signing up to and are comfortable with

                          clients, by contractors or even          The institutions have also been told to     their choices.
                          other employees, Congress is         take account of the needs of vulnerable    seeks to explain in
                          recommending that the new            consumers, including those with physical        plain English common financial products
                          law should also make the             disabilities – such as visual or hearing        and the terms and procedures which finan-
                          employer vicariously liable for      impairments – as well as those with             cial institutions apply.
                          any adverse treatment of this        intellectual disabilities.                          Although the website cannot provide
                          kind, along the lines of similar                                                     specialised money advice, it aims to help
                          provisions in employment                                                             people make informed decisions by equip-
                          equality legislation.                The Central Bank’s focus on jargon follows      ping them with the right questions to ask
                                                               the publication of research showing that        and the key points to look out for.

    20                    SPECTRUM                      july 2012

        Keep your finger
         on the pulse…


         Check out or
                                                          IBOA THE FINANCE UNION

 for all the
         latest news and much more

                                 july 2012     SPECTRUM        21
SHORT STORIES                                     NEWS REVIEW                          SAFETY FOCUS                              IBOA NEWS

                          Access to
                          sick leave is
                          in US
                                                              To Sit
                          W      orkers at the top of the
                                 wage scale in the US
                                                              down on
                          are more than four times as
                          likely to have paid sick days
                          than workers toiling near the
                          bottom wage scale, according
                                                              the job
                          to a recent report by the Eco-
                          nomic Policy Institute (EPI).
                              The Economic Snapshot
                          found just 19% of low wage
                          workers have paid sick days in
                          the US, compared with 86% of
                          high-wage workers. These low
                          income workers are the ones
                          who can least afford to lose pay

                          when they are sick.
                              Overall one in four workers
                                                              at work
                          have no paid sick days and when
                          they become ill, are forced to      is bad for
                          go to work sick, or stay home
                          without pay and risk losing         pregnant women
                          their job.

                              The national trade union
                          federation, the AFL-CLO,                tanding for long periods at work while pregnant may curb the growth of the
                          reports recent surveys show that        developing foetus, new research indicates.
                          three-quarters of Americans            Dutch researchers, who published their   not consistently associated with restrictions

                          believe that paid sick leave       findings online recently in the journal,     on overall size or birth weight, or with
                          should be a “basic workers’        Occupational and Environmental Medicine,     premature birth.
                          right” and that Congress should    assessed the foetal growth rates of 4,680        Nor did working up to 34 or 36 weeks
                          pass legislation that guarantees   mums-to-be from early pregnancy onwards      of pregnancy have any adverse impact on
                          paid sick leave for workers.       between 2002 and 2006.                       foetal development.
                              More than 160 countries            Midway through their pregnancy,              But women who spent long periods on
                                                             the women were questioned about their        their feet during their pregnancy, in jobs
                          provide paid sick leave, but not
                                                             working conditions and the physical             such as sales, childcare, and teaching,
                          the United States.                 demands of their jobs, including                  had babies whose heads were an
                                                             whether these involved lifting, long               average of 1 cm (3%) smaller than
                                                             periods of standing or walking, night               average at birth, implying a slower

                                                             shifts and long working hours.                      growth rate.
                                                                 38.5% of the women spent a long                     Those who worked more than 40
                                                             time on their feet and 45.5% had to                    hours a week had smaller babies
                                                             walk for long periods. Heavy lifting                   than those who worked under 25
                                                             was part of the job for just 6%,                       hours a week.
                                                             while around 4% worked night                                  Previous research has also
                                                             shifts.                                                    indicated that long working
                                                                 The results showed that                                hours may increase the risk of
                                                             physically demanding work                                birth defects, premature birth,
                                                             and long working hours were                           stillbirth and low birth weight.

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

                                                                                                  It’s your right
                                                                                                  to work in
                                                                                                  safety and
                                                                                                  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 Northern Ireland.

                                                                                                       These can be accessed on
 Constant change is more likely to result                                                         the IBOA websites by following
                                                                                                  these links:
 in staff burn out, say researchers                                                               rights/yourrightsroi/health-

                                                                                                  safety.html for the Republic of
        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           •
 businesses 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.
     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       competitive advantage, too many senior           Curran (FTB), Margaret Power
                                                                                                                                      IBOA THE FINANCE UNION

 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 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.

                                                                                           july 2012                 SPECTRUM              23
SHORT STORIES                               NEWS REVIEW                                  SPECIAL FOCUS                                          IBOA NEWS

                                            DUFFY PLANS                                  HANNA RETAINS                               UNION APPOINTS
                                            SMALLER AIB                                  NIC-ICTU SEAT                               NEW OFFICIAL
                                            AIB has informed its staff that it intends   IBOA Senior Industrial Relations Officer,   Billy Barrett has rejoined the staff of
                                            to close a number of its branches as         Gerry Hanna, has secured re-election        IBOA as Senior Industrial Relations
                                            its customers will be able to do more        to the Northern Ireland Committee of        Officer with responsibility for AIB and
                                            business at post offices in future.          the Irish Congress of Trade Unions.         Ulster Bank.
                                                                   See Page 26                                  See Page 27                                 See Page 27

                                            HISTORIC BANK SECRETARIES                                                                ROBERT CALLS
                                            CONFERENCE IN GALWAY                                                                     IT A DAY

                                            IBOA’s recent Bank District Secretaries’ Conference in Galway had just about             Robert Thompson has decided to
                                            everything – with a thoughtful and at times emotional celebration of the Union’s         stand down as IBOA’s Danske Group
                                            past amid serious contemplation of Irish banking’s future and IBOA’s vital role in       Officer and Executive Committee
                                            influencing it.                                                                          member as he leaves Northern Bank.
                                                                                                        See Page 28-29                                  See Page 30

                                                                                                      10% off all products
                                                                                                      purchased in the
                                                                                                      Republic of
                                                                                                      Ireland or
                          Women who                                                                   Northern Ireland

                          seek to be                                                                  on presentation
                          equal with
                          men lack                                                                    of your IBOA
                          ambition.                                                                   membership
                           Marilyn Monroe                                                             card in store.

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

   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).

 T    he decision by the Chief
      Executive of Ulster Bank,
 Jim Brown, to forgo any bonus
                                                "In view of the huge damage
                                            to its reputation, Ulster Bank
                                            should follow up on its commit-
                                                                                   Ulster Bank
                                                                                   chief’s bonus
                                                                                                                        “As a further measure to re-
                                                                                                                    build confidence, RBS should also
                                                                                                                    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                                                ation of Ulster Bank in Ireland –

                                            independent mechanism for
                                                                                   gesture is                       including the provision of the
 by IBOA General Secretary,
 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                                         ensure that Ulster can become a
 crisis, there was something                own customers and those of             step in bid                      fully functioning bank as soon
 surreal about providing extra              other institutions who have been                                        as possible. One of the major
 rewards to the boss of a loss-             adversely affected by the crisis.      to rebuild                       lessons that has come out of this
 making business which earlier                  “The Bank also needs to put                                         catastrophic situation has been
                                            in place a genuinely effective         Bank’s                           the sterling performance of the
 this year announced plans for
                                            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,
 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.
                                            conduct into this affair, must                                              “These staff have made a real
                                                                                                                                                        IBOA THE FINANCE UNION

 restore faith with its staff and
 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.

                                                                                                            july 2012                  SPECTRUM         25
SHORT STORIES                                      NEWS REVIEW                      SPECIAL FOCUS                                      IBOA NEWS

                          planned in
                          Republic after
                          AIB links up
                          with An Post
                          A    IB has informed its staff
                               that it intends to close a
                          number of its branches in the

                          Republic as its customers
                          will be able to conduct more
                          transactions at post offices in          Duffy’s circus: AIB Group Chief Executive, David Duffy, at the Bank’s recent AGM
                          the future.                                                 (Photo: Laura Hutton, Photocall-Ireland)
                              AIB recently reached an
                          agreement with An Post to
                          co-operate on extending the
                          range of banking services
                          currently available in post
                                                              Duffy plans for
                              New services to be intro-
                          duced in the coming months
                                                              smaller bank

                          are likely to include cheque

                                                              Intensive T
                          lodgements and deposit
                          account transactions.
                              Media commentators have                                   he Union’s AIB Executive                ing some branch closures;
                          speculated that as many as 90                                 Committee met AIB Group             • a return to profitability by
                          branches – including many in                             Chief Executive, David Duffy,                2014; and
                          rural areas – could close. AIB      talks get            earlier this month to discuss            • engagement with key stake
                          currently operates 270 outlets                           the senior management’s                      holders including IBOA
                          excluding its EBS subsidiary.       started              strategy for the future of AIB               and staff – with the Chief
                              In a strategy update to staff                        Group and the implications                   Executive committing to

                          AIB’s senior management said:                            for the staff of the Bank.                   full consultation and
                          “Regrettably this means that
                                                              between                  Mr Duffy outlined his                    negotiation with the Union
                          the number of branches will                              vision for the Bank as follows:              in line with the agreed
                          reduce as part of the move to
                                                              AIB and              • a new Bank model with                      Partnership Principles.
                          lower costs.                                                 greater customer focus;              While the IBOA team – led
                              “But through the use of         IBOA                 • a One Bank structure with              by General Secretary, Larry
                          mobile banks and new                                         a new management team;               Broderick – welcomed the
                          branch openings in selected                              • a restructure of the Retail            Chief Executive's commitment
                          areas, AIB will bring banking                                network across UK and                to full negotiation with the
                          services to new locations.”                                  Republic of Ireland involv-                                      ⁄

    26                    SPECTRUM                     july 2012
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
 • 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
 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, 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
 make informed decisions about
 their future.
     The Bank has committed
                                    …and Billy’s
 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
                                                                                                                                                      IBOA THE FINANCE UNION

 implementation.                         Senior Industrial Relations Officer.
     Intense negotiations have          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
                                    Ulster Bank.                                                                        Billy Barrett

                                                                                                    july 2012                      SPECTRUM                27
SHORT STORIES                                           NEWS REVIEW                               SPECIAL FOCUS                               IBOA NEWS

                          THE FUTURE IS AT STAKE

                          WE ARE STAKEHOLDERS

                          Bank District
                            Galway 2012

                          Action                                    T  he Union’s Bank District
                                                                       Secretaries Conference in
                                                                    May at the Clayton Hotel in
                                                                                                          and Danske Bank, the Con-
                                                                                                          ference could truly be described
                                                                                                          as historic.
                                                                                                                                              ON SCREEN: Union
                                                                                                                                              General Secretary, Larry
                                                                                                                                              Broderick, is interviewed
                                                                    Galway was most memorable.                The opening session saw         for RTE television news
                                                                                                          the official launch of Handling     during a break in the
                          packed                                        From the opening session of
                                                                    the Conference – which included
                                                                                                          Change: A History of the IBOA,
                                                                                                          written by Dr. Paul Rouse and
                                                                                                                                              Conference (Photo: Tadhg

                                                                    a celebration of the Union’s past     Mark Duncan, who were both
                                                                    – right through to the breaking
                          event                                     news on the second day of major
                                                                    developments in AIB Group and
                                                                                                          in attendance along with pub-
                                                                                                          lisher, Con Collins, as well as a
                                                                                                          number of former Presidents
                          Memorable in                              Bank of Ireland – following hard      and former General Secretary,
                                                                    on the heels of earlier substantive   Ciaran Ryan.
                          many ways                                 announcements in Ulster Bank                                         ⁄

                                                                                             FOR IBOA MEMBERS

                                                                                              E30 off glasses from the E149 range or above
                          Up close and personal: Pat                                          in the Irish Republic
                          Brady, Director of Workplace Solutions,
                          addressed delegates on how trade                                    £20 off glasses from the £99 range or above in
                          unions can address the growth in the                                Great Britain and Northern Ireland
                          number of individual – as opposed to
                          collective issues – including personal
                                                                                              To receive your SpecSavers discount voucher,
                          cases involving employee grievances
                          and threats of disciplinary action by                               call 0(0-353-)1-4755908 or 0(0-44-)2890-200130.
                          employers (Photo: Tadhg Keady).

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

                                                                                                      THE FUTURE IS AT STAKE

                                                                                                       WE ARE STAKEHOLDERS

                                                                                                      Bank District
                                                                                                        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.
                              relations developments in key        safety and security.

   The Phantom of the Opera
   Bord Gais Energy Theatre, 27 July 2012, 6:30p

   Normal Price: E55 IBOA Price: E45

                                                               O        U
                                       L D
                                                                                                                                                IBOA THE FINANCE UNION

                                                                                                       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
                                                                                                      order to defend jobs, pay, terms and
                                                                                                      conditions (Photo: Tadhg Keady).

                                                                                               july 2012                     SPECTRUM                29
SHORT STORIES                                        NEWS REVIEW                             SPECIAL FOCUS                             IBOA NEWS

                          Robert calls
                          it a day
                          I  BOA’s Danske Bank Group
                             Officer, Robert Thompson,
                          has decided to avail of recent
                          developments in Northern
                          Bank to pursue his career out-
                          side the Danske Bank Group.
                              Accordingly he has resigned
                          from the Union Executive and
                          from his post as Danske Bank
                          Group Officer.
                              IBOA General Secretary,
                          Larry Broderick, paid tribute to      On the move:(above)         developed a keen interest in          Robert was also a long-
                          Robert for “his excellent service     former Danske Bank Group    workplace health and safety –     standing member of the Belfast
                          to the Union’s members in             Officer, Robert Thompson,   achieving a higher level quali-   Bankers’ Club Committee.
                          Northern Bank over sixteen            has now resigned from       fication –and representing IBOA       His resignation leaves two
                          years – particularly in his role as   Northern Bank.              with distinction in a number      vacancies in the Union – for
                          Bank Officer” representing staff      On the line: (above         of fora dealing with the issue.   Executive Committee member
                          in Northern Bank and National         right) Robert Thompson           He was deeply committed      and for Danske Group Officer
                          Irish Bank in National Australia      (right) on picket duty      to membership training and        – which will be filled in due
                          Group and latterly Danske Bank.       during the 1994 strike in   served on the Union’s National    course in line with IBOA’s

                              In addition to his immediate      Northern Bank.              Education Committee.              Constitution.
                          representative role, Robert also


                           A history of IBOA
                           P   ublished by the Collins Press – and written by Paul
                               Rouse and Mark Duncan, Handling Change, was
                           specially commissioned by the Union.
                               The evolution of the IBOA offers a fascinating
                           picture of Ireland – not least of how banking moved
                           from a thoroughly conservative industry to one so
                           reckless as to bankrupt the Irish State.

                               IBOA has a limited number of copies of the book
                           for sale to members at the special discount price of E10
                           or £8 (including postage and packing).
                               To order up to two copies at the special discount
                           price, please send your name, address, the number of
                           copies required and your IBOA membership number –
                           together with a cheque or postal order for the appropriate
                           amount to IBOA History Orders at IBOA House, Stephen
                           Street Upper, Dublin 8 or e-mail

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

 THE IRISH BANKERS’ CLUB                                             CLUB OPENING HOURS:
                                                                     Tuesday-Saturday: 4.30pm
  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 –
     1st Prize – Two weeks holiday                                                   Cost only E20 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
            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.                                             
  All Draws at 9pm. Bar Food Each Draw Night                               
   from 5pm-10pm plus Big Attendance Prizes                                      sportsandsocial/bankersclub.html

                                                    Club Bookings
                                                                                                                           IBOA THE FINANCE UNION

                                       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!

                                                                                   july 2012                    SPECTRUM        31
SHORT STORIES                               NEWS REVIEW                                 SPECIAL FOCUS                                         IBOA NEWS


                                            SUITE DEAL FOR IBOA MEMBERS IN NORTHERN IRELAND
                                            Minister for Employment and Learning, Dr. Stephen Farry, was on hand to endorse two major training initiatives by IBOA –
                                            the official opening of the Union’s computer training suite in the IBOA Offices in Malone Road, Belfast, and the signing of a
                                            new partnership agreement with the North-West Regional College for the provision of education and training courses for IBOA
                                            members in Northern Ireland.
                                                                                                                                                     See Page 34-35

                                                                                                    Don’t forget…

                                            BACK TO THE FUTURE
                                            The Union’s Pensioners Members’ Committee
                                            gears up to campaign for fair treatment.
                                                                              See Page 36

                          If you're going
                          to be two-                                                                 Entry to Dublin Zoo is FREE for IBOA
                                                                                                     members on Saturday September 1.

                          faced, at least
                          make one of                                                                                            Just show your IBOA

                          them pretty!                                                                                           membership card at the
                                                                                                                                 gate and get free entry

                                                                                                     SO IAL
                           Marilyn Monroe
                                            DIVERSITY AT WORK                                                                    for either 2 adults and 4
                                                                                                                                 children or 1 adult and 5
                                            IBOA backs campaign for more tolerant workplace.        E•V•E•N•T                    children.
                                                                            See Page 37

    32                    SPECTRUM            july 2012
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
                                                                                              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;
       strength – 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 or
 ships with employers, regulators                     should be negotiated and

 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
 possible to join IBOA so that                        less than half of the staff in a   IBOA House at 00-353-1-
                                     Gareth Murphy,                                      4755908 or 00-44-2890-200130
 the Union can exert the maxi-      IBOA Organising   particular employment.
 mum influence on behalf of                               So just imagine how much       or
 everyone in the employment.                          more effective the Union

                                                                                                                              IBOA THE FINANCE UNION

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

                          for Union
                          members in
                          Minister backs
                          IT training
                          for IBOA

                          M      inister for Employment
                                 and Learning in Northern
                          Ireland, Dr. Stephen Farry
                                                             work through the financial
                                                             services sector here.
                                                                 “IBOA is endeavouring to
                                                                                                Minister for Employment
                                                                                                and Learning, Dr. Stephen
                                                                                                Farry performs the formal
                                                                                                                               some measure of security in
                                                                                                                               these difficult times.
                                                                                                                                   “Our Computer Training
                          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-
                                                                                                Kevin Cooper/Photoline).

                                                              Take pride
                          Malone Road, Belfast.              supports – which can provide                                      ence for our members.”
                              The Minister also endorsed
                          a new partnership agreement

                                                              in your
                          between the North West


                          Regional College (NWRC) and

                                                                                                                                          S IAL
                          IBOA under which the college
                          will provide a number of

                          education programmes for
                          Union members across North-                                                                                    E•V•E•N•T
                          ern Ireland (see page opposite).
                              Speaking at the launch,
                          IBOA Training Officer, Marian
                          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
                          unprecedented global crisis                    for either 2 adults and 4 children or 1 adult and 5 children.

    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
 a 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
 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
 Union Learning Fund which is likely                  bespoke upskilling courses.”
 to support some of the training courses                  IBOA Training Officer, Marian
 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
                                                                                                                                                        IBOA THE FINANCE UNION

 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.

                                                                                                           july 2012                    SPECTRUM        35
SHORT STORIES                                      NEWS REVIEW                              SPECIAL FOCUS                                    IBOA NEWS

                          T   he Union’s Pensioner
                              Members’        Committee
                          represents the interests of
                          IBOA members who opt to
                          continue as Union members
                                                              Age is no barrier
                          when they leave the bank’s
                          service on pension.
                              Many former bank staff,
                          now on pension, have retained
                          their IBOA membership. This
                          is to their benefit in several
                              They can make their con-
                          cerns known to the Committee
                          and raise them at meetings for
                          pensioner members – such as
                          the formal biennial meeting
                          which elects the Committee,
                          discusses a range of issues and
                          hears a report from the General
                          Secretary Larry Broderick – as
                          well as at other meetings held
                          from time to time.

                                Keeping up to date
                          There are social advantages
                          also. Members enjoy meeting
                                                                   Planning for the Future: The Union’s Pensioner Members’ Committee pictured at a recent meeting
                          up again with former work
                                                                                                    (Photo: Tommy Clancy)
                          colleagues at meetings – this
                          is especially the case since some    IBOA Pensioner                  The Committee is affiliated        with respect – particularly in

                          banks cancelled the annual              Members’                 to the Irish Senior Citizens’          institutions that are virtually
                          pensioners’ lunches! Also,             Committee                 Parliament – a key body which          100% State-owned.
                          pensioner members are kept                                       interacts with Government on               Pensioner members are
                          up to date with major issues.        The members of the          matters of concern to pension-         writing to their own former
                               Pensioner members also         current committee are:       ers and older people.                  employers deprecating the
                          receive Spectrum as well as                                          The Parliament scrutinises         attack on staff terms and con-
                          other communications from              Hilary Acheson            legislative proposals coming           ditions many of which are
                          IBOA from time to time. They             Cecil Barron            from Government Departments            regarded as contractual.
                          also have access to the My IBOA                                  – such as the Department of
                          area of the Union websites –            Frank Cannon                                                              How to Join
                                                                                           Health – and their likely effect
                          which is exclusive to members          Leonard Coote             on senior citizens.                    This is simple. As members
                          and where they can learn                  Ken Doyle                  The Parliament also lobbies        retire from work on pension,

                          about the latest developments       (Honorary Secretary)         on the growing threats to occu-        they receive an application form
                          in each mployment and the              Maeve Gannon              pational pensions, especially          from IBOA to rejoin the Union.
                          latest discounts on offer to                                     Defined Benefit schemes.               The subscription is payable
                          members for various goods,              Colin Gracey                                                    twice yearly, in January and
                                                                                               The IBOA Pensioners’
                          services and social events.               Bríd Keelty            Committee plays an active role         July and amounts to E22.36 or
                                                                Geraldine Langan           in the Irish Congress of Trade         £16.40 each half year.
                                  Representation                  Marie Lohan              Unions’ Retired Workers’                    With early retirement
                          The Pensioners’ Committee,                                       Committee – which seeks to             packages on offer in many em-
                                                                   Tom Lydon                                                      ployments, it is likely that
                          which meets quarterly, plays                                     represent the interests of
                          an important role in IBOA. It           Michael Miller           retired workers.                       many active Union members
                          is represented at the Union’s          John McKenna                                                     may now become pensioners.

                          Biennial Delegate Conference        Margaret McGoldrick                 Still Campaigning               It is in their interest and that of
                          and may propose motions                                          With the pay and terms and             the IBOA that they continue
                                                               Brendan O’Donohue           conditions of employment of            their association with the Union
                          for debate which, if passed,
                          become part of IBOA policy.                                      serving staff coming under             when they retire.
                              The Committee’s Chairman             Ted O’Leary             increasing pressure as banks                For more information on
                          and Honorary Secretary meet            Seán O’Sullivan           continue to down-size, retired         the work of the Committee,
                          IBOA’s General Secretary and          Fergus Reynolds            members of IBOA have been              you can contact any member
                          Honorary Secretary on a regular                                  active in writing to their local       directly or send an email to
                                                                  Des Sheridan
                          basis to discuss matters of                                      parliamentary representatives
                          mutual interest and concern.            Harold Strong            to outline the need to treat staff                             Ken Doyle

    36                    SPECTRUM                     july 2012
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
 their 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 Diversity is a         on how to develop their
 the development of the toolkit      Davin Roche, Director of   quick and easy to use online              diversity practice
                                     Workplace Diversity for
 which has been piloted in the                                  self-assessment toolkit that           • find different approaches
                                     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                                      • receive practical guidance 

                                           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
                                                                                                                                      IBOA THE FINANCE UNION

                                           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.

                                                                                                july 2012              SPECTRUM            37
SHORT STORIES                                     NEWS REVIEW                           SPECIAL FOCUS                              IBOA NEWS

                          Lionel Richie’s
                          greatest hits –
                          country style
                          Tuskagee tour focuses on
                          soul star’s Southern roots
                          T   he European leg of Lionel Richie’s Tuskegee tour kicks off
                              at the O2 in Dublin on September 24, followed by Belfast’s
                          Odyssey Arena on September 26. The tour marks a new depar-
                          ture for the former soul man into Country music, showcasing
                          his new album, Tuskegee, which features new treatments of
                          Richie’s greatest hits in duets with major country artists like
                          Willie Nelson, Shania Twain, Kenny Rogers and Jimmy Buffett.
                              While the prospect of            “It’s about where I came
                          Lionel Richie answering the from and how I arrived at
                          call of Country raised many where I am today,” says Richie.
                          eyebrows initially – and even        “I’ve come full circle. It’s a

                          infuriated some Country music validation. It’s a state of mind – a
                          purists – it has proved highly place that represents possibilities,
                          popular with the public in hope, promise, empowerment,
                          the US where Tuskegee is now and where dreams come true –
                          the second biggest selling no matter how old or young
                          album of 2012.                   you are, or where you’re from.”
                              Named after his home             In a remarkable career           Lionel Richie:           an Oscar for Best Original Score.
                          town of Tuskegee, Alabama in spanning more than thirty                The Tuskagee Tour        He has also received a host
                          America’s Deep South, the years, Richie has sold over 100                                      of other awards from virtually
                          new album has been described million albums; registered 22            Monday September 24      every major entertainment
                          as “a journey of return and top 10 hits; and won five                 The O2 Dublin 7.30pm     organisation.
                          revelation.”                     Grammys, a Golden Globe and                                       Audiences are rarely dis-
                                                                                                Normal Price: E78.00

                                                                                                                         appointed with Lionel Richie’s

                                  IBOA Family Day
                                                                                                plus E5.00 booking fee   exuberant live shows which
                                                                                                Special IBOA Price:      draw from his very extensive
                                                                                                                         repertoire of songs from the

                                                                            T                                            early days of the Commodores,

                                                                                                Wednesday September 26   through the memorable soulful
                                 Tayto Park, Ashbourne, C . Meath
                                         Saturday 28th July 2012
                                                                  O       U                     Odyssey Arena Belfast
                                                                                                Normal Price: £57.00
                                                                                                                         classics of the 1980s to the
                                                                                                                         more recent up-tempo pop
                                                                                                                         material from the 2000s.
                                                                                                                             IBOA is offering members
                                      Normal Price: E12 per ticket
                                                                                                plus £5.00 booking fee
                                                                                                                         a special discount on tickets


                                                                                                Special IBOA Price:      for the shows in Dublin’s O2
                                  Special BOA Price: E6 per ticket                              £45.00                   and in Belfast’s Odyssey Arena

                                    O            L                                              SP RTS
                                                                                                                         – on a strictly first come, first
                                                                                                                         served basis. Requests for
                                                                                                                         tickets should be made with
                                                                                                                         the Sports and Social Depart-

                                  S                                                              SO IAL
                                                                                                                         ment in IBOA House by tele-
                                                                                                                         phoning 00-353-1-4755908 or
                                                                                                                         00-2980-200130 or by logging
                                                                                                E•V•E•N•T                on to the Union websites.

    38                    SPECTRUM                   july 2012

                                                          IBOA THE FINANCE UNION

                                 july 2012     SPECTRUM        39
SHORT STORIES                               NEWS REVIEW                                SPECIAL FOCUS                                       IBOA NEWS

                                                                                                                               FAIR DEAL TO
                                                                                                                               STAY IN AIB
                                                                                                                               AIB staff meet to develop campaign to
                                                                                                                               protect pay, terms and conditions for
                                                                                                                               the staff who will remain with the Bank
                                                                                                                               after the restructure.
                                                                                                                                                      See Page 44

                                            LEGACY FROM THE DARK AGES
                                            Irish Bank Resolution Corporation moves to address a long-standing issue for
                                            former Irish Nationwide staff.
                                                                                                         See Page 42

                                                                                                                               ULSTER SAYS

                                                                                                                               As RBS Chair, Sir Philip Hampton,
                                                                                                                               apologises to Ulster Bank staff for the
                                                                                                                               RBS IT foul-up, Ulster Bank manage-
                                                                                                                               ment suspend restructure to assess
                                                                                                                               the damage.
                                                                                                                                                     See Page 45

                          Just because
                          you fail once,
                          doesn't mean

                          you're gonna                                                                                         NIB CLOSURES
                          fail at every-    AIB’S BRAVE NEW WORLD REQUIRES
                                            FURTHER SACRIFICES FROM STAFF                                                      RAISE FEARS
                          thing. Keep                                                                                          Proposals from Danske Bank to close
                          trying and                                                                                           down National Irish Bank’s retail branch
                                            IBOA has rejected proposals from AIB's senior management to close down its
                          believe in        Defined Benefit pension scheme and to extend the current pay freeze for ordinary
                                                                                                                               network have raised concerns about
                                                                                                                               the strength of Danske’s commitment to
                          yourself!         staff until the end of 2014.                                                       Ireland under new CEO Elvind Kolding.
                           Marilyn Monroe                                                              See Page 43-44                             See Page 46-47

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

  Banking on
  the future
  Framework for
  change agreed
  at Bank of

 T    he Union’s Bank of
      Ireland negotiating team
 has engaged in a series of
                                   Parting on good
                                   terms: The full terms of
                                   the Change Management
                                                                     “Management has also
                                                                 given a commitment that all
                                                                 existing agreements with the
                                                                                                      “Any employees affected
                                                                                                  by change will be managed
                                                                                                  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
 Agreement 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
 members in Bank of Ireland          “Any reduction in staff      this agreement are available to
 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
 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
                                                                                                                                    IBOA THE FINANCE UNION

 • 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
 said Gerry Hanna.                 ballot of members.

                                                                                           july 2012                SPECTRUM             41
SHORT STORIES                                   NEWS REVIEW                                SPECIAL FOCUS                              IBOA NEWS

                          of an
                          IBRC makes full
                          refund payment
                          to settle long-
                          standing INBS
                          pension anomaly
                          A    fter several months of
                               intense discussions on
                          the commission charges
                                                           INBS Headache: The
                                                           administration of the staff
                                                           pension scheme was one
                                                                                              The administration of the
                                                                                          staff pension scheme in Irish
                                                                                          Nationwide (INBS) was one
                                                                                                                            pension pot have achieved a
                                                                                                                            certain public notoriety, the
                                                                                                                            rest of the INBS employees
                          paid by members of the Irish     of a number of unusual         of a number of major concerns     were not so fortunate.
                                                           practices at Irish Nation-     identified by the members              Not only does the pension
                          Nationwide Building Society      wide Building Society          who joined IBOA in 2009 and       fund they are to share amount

                          Defined Contribution pen-        under the stewardship of       2010 – following the demise of    to less than a quarter of the size
                          sion scheme between 1991         former CEO of Michael          the previous management           of the former CEO’s personal
                          and 2009, IBRC has made a        Fingleton. (Photo: Leon        regime, led by Chief Executive,   nest-egg – but some rather
                          full refund payment – which      Farrell, Photocall Ireland).   Michael Fingleton.                unusual charges were levied
                          have been very well re-                                             While the very generous       on the members of the scheme.
                          ceived by members.                                              terms of Mr. Fingleton’s own           Rather than being treated as
                                                                                                                            a standard employee pension
                                           Your IBOA Subscriptions:                                                         scheme which is administered
                                                                                                                            on a group basis, the INBS
                                                                                                                            scheme was developed as a
                                     Claiming A Refund                                                                      number of individual plans –
                                                                                                                            such as might have been sold

                          If there is a change in your employment circumstances – like moving onto part-time                to customers of the Society
                                                                                                                            taking out personal pensions –
                                                                                                                            with the result that separate
                          hours or changing to job-sharing, you may be entitled to avail of a lower subscription

                                                                                                                            commissions – amounting in
                          rate. The current membership categories and rates are published on the IBOA websites
                                                                                                                            some cases to many thousands
                          at and
                                                                                                                            of euro – were charged to each
                                                                                                                            employee who joined the
                          Please make sure you inform IBOA Head Office of any change as soon as possible

                          so that your subscription rate can be adjusted – and you receive prompt refund of
                                                                                                                                 When the Irish Bank Reso-
                          any overpayments.
                                                                                                                            lution Corporation (IBRC)

                                                                                                                            took over the INBS business –
                          Please note that the rebate for any overpayments will be capped at the amount

                                                                                                                            and many former INBS staff –
                          overpaid for the first 24 months after the change of status occurred.
                                                                                                                            IBOA again raised the issue of
                                                                                                                            the pensions “anomaly.”
                          You can check your personal profile online in the My IBOA Section of the Union
                                                                                                                                 The refund payment made
                          websites and make any necessary amendments there – or you can contact the
                          Membership Department in Head Office at the address below.                                        by IBRC has been very well
                                                                                                                            received by members who
                                                                                                                            worked in the former INBS
                          Membership Department • IBOA The Finance Union • IBOA House • Stephen
                                                                                                                            as yet another vindication of
                          Street Upper • Dublin 8 • Tel: (00353)-1-4755908 or (0044)-2890-200130 •
                          E-mail:                                                                              their decision to join IBOA.

    42                    SPECTRUM                 july 2012
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
 I  BOA has rejected proposals
   from AIB's senior manage-
 ment to close down its Defined
                                                                        savings for the Bank – but would
                                                                        have a significant impact on the
                                                                        retirement income of many
                                                                                                              that a tiny minority of selected
                                                                                                              staff have received top-up
                                                                                                              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
     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
                                                                                                                                                  IBOA THE FINANCE UNION

                                                                        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,                                          ⁄

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

                                                                                                                                   ‘Fair deal
                                                                                                                                   to stay’
                                                                                                                                   under way
                                                                                                                                   T    he Union’s Fair Deal to
                                                                                                                                        Stay campaign in AIB has
                                                                                                                                   begun 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                                      engage meaningfully with the

                                                               AIB members and IBOA                                                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
                          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          earlier this month.               “An enlightened management
                                                                                                                                   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
                                                                                                                                   in London, Manchester and

                                                                                                 “An enlightened majority
                                INDICATIVE BALLOT                                           shareholder – the Irish State –        Birmingham last week.
                          An indicative ballot of AIB                                       would also see the value in such           Additional meetings are
                          members taken in the wake                                         an approach for the public good.       planned for locations in the
                          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
                                                                                            issues – including the Bank's
                                                                                                                                       on workplace
                          rejection of the Bank’s cuts plan.
                               An overwhelming majority                                     future plans. IBOA is prepared
                          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-
                                                                                                                                    for special member

                          mentation of the proposals while                                  cerns are fully understood.
                          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.
                               “This result should provide
                                                                                            a rethink by the Bank would
                                                                                            be in the best interests of all of
                                                                                                                                       social events,
                          a wake up call for AIB’s senior                                   AIB’s stake-holders, including          see or
                          management and for the Irish                                      its customers,” Larry Broderick 
                          Government, AIB’s predominant                                     declared.

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

 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
 ton 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 –            branch opening late in       attempting to address their
 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
 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
                                                                                                        King – were suspended once the
                                                                                                                                             IBOA THE FINANCE UNION

 mitted RBS to continuing             needs of customers.
 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.

                                                                                                 july 2012                  SPECTRUM              45
SHORT STORIES                                       NEWS REVIEW                             SPECIAL FOCUS                                      IBOA NEWS

                          N     ational Irish Bank should
                                review its plan to close its
                          retail branch network – which
                          would result in a minimum of
                          100 job losses throughout the
                          Republic of Ireland, according
                          to IBOA.
                               Responding to the Bank’s
                          announcement at the end of
                          June, Union General Secretary,
                          Larry Broderick said the new
                          management’s proposals are
                          “totally at variance with the
                          commitments given by Danske
                          Bank as late as May and sub-
                          sequently made at the time of
                          the Bank’s announcement on
                          its restructuring in Ireland.”
                               Describing it as the blackest
                          day in the history of National
                          Irish Bank – especially for its
                          staff – the IBOA leader warned
                          that the proposed closure of
                          the branch network would                  Shutting up shop? Radical surgery proposed for National Irish Bank (Photo: Photocall-Ireland).
                          have huge implications for
                          staff and their families.
                               “While the financial position
                          of National Irish Bank has been
                          seriously compromised as a
                                                               Black day for staff in

                          result of the mismanagement
                          of the Bank in the past,” he said,
                          “the decision to effectively
                          scapegoat the branch network
                                                               National Irish Bank
                          and its staff is disingenuous.
                               “While IBOA’s primary
                          concern is for our members in
                          National Irish Bank, we also
                                                               Union appalled by plans to
                          have serious questions about
                          the impact of the Bank’s pro-
                          posed changes on customers.
                                                               close branch network
                                                                                                “The Bank’s management             be to put all your eggs in the IT

                                                                                           is attempting to sell this radical      basket.
                                                                                           surgery as a response to chang-             “Fortunately Ulster Bank
                                                                                           ing customer demand – which             has a network of branches –
                                                                                           now favours a more high tech            staffed by highly dedicated
                                                                                           banking environment.                    employees who have been

                                 Sweet deals
                                                                                                “They tell us that at least        able to salvage at least some
                                                                                           70% of their interactions with          elements of the Bank’s battered

                                  from IBOA
                                                                                           customers are now conducted             reputation through personal
                                                                                           by phone and over the inter-            contact with customers.
                                                                                           net.                                                                      ⁄
                                                                                                “But that is hardly surpris-

                                                                                           ing when you consider that
                                                                                                                                   As we go to press negotiations
                               For the latest news on special offers                       National Irish Bank had already
                                                                                                                                   have just commenced between
                                                                                           withdrawn cash and cheque
                                and discounts for IBOA members,                            handling facilities from their          National Irish Bank and the
                                                                                           branches – with customers               IBOA team – led by Senior
                                   check out the Union websites:                           redirected to An Post instead.          Industrial Relations Officer,
                            or                                 “Recent events elsewhere           Gerry Hanna.
                                                                                           in the financial services sector            All developments arising
                                                       have also demonstrated quite            from the talks will be covered
                                                                                           clearly how dangerous it can            on the IBOA websites.

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

                                     Northern Bank talks
                                     on restructure stall
                                     T    alks on the proposed restructure of
                                          Danske Bank's two Irish businesses –
                                     Northern Bank and National Irish Bank
                                                                                 both Northern Bank and National Irish
                                                                                 Bank to discuss the Danske Bank proposal
                                                                                 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
 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
 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
                                                                                                                              IBOA THE FINANCE UNION

 and the Minister for Finance,
 since this development high-
 lights, once again the need for
                                      Great savings and offers for IBOA members in Great Britain
 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

 year in Ulster Bank, AIB and                    Check the Members Only Section of
 Bank of Ireland.                              the IBOA websites for more information.

                                                                                     july 2012                SPECTRUM             47
SHORT STORIES                               NEWS REVIEW                       SPECIAL FOCUS                                IBOA NEWS


                                            THE OLYMPIC FLAME BURNS                                            FATE WORSE
                                            BRIGHTLY – FOR A FEW SECONDS!                                      THAN DEBT
                                                                                                               Around 1,820,000 people in the Re-
                                            IBOA member and self-confessed couch potato, David Lemon, dreams   public are left with E100 or less each
                                            of Olympic glory – and then thinks better of it!                   month after all their bills are paid.
                                                                                            See Page 51-52                               See Page 53

                                                  Exclusive                                    HICKEY’S PHARMACIES
                                                 and Special                              10% discount for

                                                   Offers                                 IBOA members
                                                for IBOA                                  on all products
                                                                                          (excluding medicines and prescriptions)
                                              members only!
                                                                                         AT HICKEY’S PHARMACIES IN ARKLOW,

                                                                                         CORK, DROGHEDA, DUBLIN,* DUNDALK,
                                                 For more information on
                          Give a girl the
                                                                                         GOREY, MAYNOOTH, NAVAN AND
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                          right shoes,
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                          and she can
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                                                                                         Street, Harold’s Cross, Henry Street,
                                                   otherservices.html or
                                                                                         O’Connell Street, Ongar, Phibsboro,
                                                            Santry, Tallaght, Terenure and Tyrrels-
                           Marilyn Monroe
                                                    otherservices.html                   town.

    48                    SPECTRUM           july 2012
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
 the 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
 and even orphanages on occasions.
     To avoid another orphanage stay a
 family friend orchestrated a marriage
 proposal when Norma Jeane was sixteen.
                                                Behind the icon
 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
 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
                                                                                                                                             IBOA THE FINANCE UNION

                                                        comedy was apparent in                         Studio in New York under the
 20th Century Fox followed along       Joe DiMaggio                                   Arthur Miller
                                                        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                                                       ⁄

                                                                                                july 2012                   SPECTRUM              49
SHORT STORIES                                          NEWS REVIEW                                    SPECIAL FOCUS                             IBOA NEWS

                                 Marilyn the Activist
                          According to Joan Greenson, the daughter
                          of Monroe’s last psychiatrist, Marilyn was
                          “passionate about equal rights, rights for
                          blacks, rights for the poor. She identified
                          strongly with the workers.”
                              Monroe also supported the anti-nuclear
                          campaign, led by the Committee for a SANE
                          Nuclear Policy, which also listed Marlon
                          Brando, Henry Fonda, Harry Belafonte and
                          Albert Schweitzer among its more prominent
                               During the filming of Bus Stop,Monroe’s
                          growing relationship with playwright,
                          Arthur Miller, was becoming more public
                          – at just about the time Miller was called
                          to appear before the House Un-American
                          Activities Committee in the US Con-
                          gress, like many in the film industry in
                          the 1950s – to explain his alleged com-
                          munist affiliations.                                 Lemmon and Tony Curtis. Although it           the couple had decided to separate and
                               When Miller refused the Committee’s             received a ‘C’ (Condemned) rating from        Gable had suffered a fatal heart attack.
                          order to identify communists of his                  the National Legion of Decency (formerly          Opening to mixed reviews, The Misfits
                          acquaintance, he was charged with con-               the Catholic Legion of Decency) on its        was not a commercial success – although
                          tempt of Congress – but later acquitted              release in 1959, Some Like It Hot was both    Huston received a Directors’ Guild
                          on appeal. At the same time, Monroe                  a critical and popular success.               nomination for the film. However, even-
                          rejected pleas from studio bosses to                     The film won a slew of Oscars –           tually the performances of Gable, Monroe
                          abandon Miller rather than put her                   including Best Director for Wilder – as       and Clift came to be admired by many
                          career at risk from the negative publicity.          well as Golden Globes for Best Motion         film critics and the film has since come to

                               In 1956, as the press became ever               Picture (Musical or Comedy), Best Actress     be regarded as a classic.
                          more excited about the relationship                  (Musical or Comedy) for Monroe and Best           In the ensuing months, Monroe’s
                          between “The Egghead and The Hour-                   Actor (Musical or Comedy) for Lemmon).        growing dependence on alcohol and pre-
                          glass,” a reporter, who was pursuing the                 Subsequently acclaimed as one of the      scription drugs began to take an increas-
                          couple by car, was involved in a crash               best films ever made, Some Like It Hot        ing toll on her health. With her divorce
                          which resulted in a fatality.                        was listed by the American Film Institute     from Miller finalised in January 1961, she
                               Deeply distressed, Monroe and Miller            in 2000 as “the greatest American comedy      voluntarily entered a psychiatric clinic
                          immediately announced their engage-                  film of all time.”                            in February. After two minor surgical
                          ment – in part, it seems, to quell the media             During a short stay in Nevada in 1956,    procedures in May and June, Monroe
                          hysteria around their relationship – and             Arthur Miller wrote a short story about       returned to California to convalesce.
                          married in June 1956.                                some of the locals. By 1960 the story was         In 1962, she began filming Something's
                               Reflecting later on his attraction to           to become Monroe’s last completed film,       Got to Give, directed by George Cukor,
                          Monroe, Miller wrote: “She was a whirling            The Misfits. Directed on location in Nevada   and co-starring Dean Martin and Cyd

                          light to me then, all paradox and enticing           by John Huston with a cast including          Charisse. As health issues meant that she
                          mystery, street-tough one moment, then               Clark Gable, Eli Wallach, Montgomery          could only report for work on twelve out
                          lifted by a lyrical and poetic sensitivity           Clift and Thelma Ritter, the film was         of 35 days, Monroe was fired and hit with
                          that few retain past early adolescence.”             dogged by illnesses to all of the leading     a $0.5m law suit from 20th Century Fox.
                               As the street-tough head of her own             players apart from Wallach. Although              In what were to be the final weeks of
                          production company, Marilyn Monroe                   Monroe had to be hospitalised for ten days,   her life, Monroe had discussions about
                          Productions, she released The Prince and             she returned to Nevada to finish shooting.    future film projects, as well as continuing
                          the Showgirl in 1957 – starring opposite                 Miller’s screenplay for The Misfits       negotiations on Something's Got to Give.
                          Laurence Olivier and earning a BAFTA                 was meant to be a Valentine gift for his          However, none of these came to
                          acting nomination in the process.                    wife, but by the time filming started in      fruition as Marilyn Monroe died from an
                               In 1958, she made the Billy Wilder              1960 their marriage was beyond repair.        overdose of barbiturates in August 1962

                          comedy, Some Like It Hot, with Jack                  Within ten days of completing the film,       in controversial circumstances at her
                                                Marilyn and Ella                                                             new home in Brentwood, Los Angeles.
                                                                                                                             Though officially classified as “probable
                          Jazz singer, Ella Fitzgerald, took a major step to stardom when                                    suicide,” the possibility of an accidental
                          Monroe persuaded the owner of the Mocambo Club in Hollywood                                        overdose – or even homicide – have not
                          to book the first black artist to perform at the venue with the promise                            been entirely ruled out.
                          that Marilyn would come to see Ella whenever she sang there.                                       • In 1999, Marilyn Monroe was rated
                               “After that,” Fitzgerald recalled, “I never had to play a small jazz                          the sixth greatest female star of all time

                          club again. She was an unusual woman – a little ahead of her                                       by the American Film Institute.
                          times. And she didn’t know it.”

    50                    SPECTRUM                         july 2012
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
                                                                                                     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
   that 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                            cracking pace, which I kept up
 rather comfy chair man – of Slob      balding, red-faced, pot-bellied,
                                                                             IBOA member        for all of a hundred yards until
 Leisure Pursuits Plc was surely       middle-aged tub of lard strug-                           I was round the comer and out
                                                                                                of sight. I slowed to a gentle jog
 just around the comer.                gling with a chest press would
                                                                             and self-
     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                             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.
                                                                             dreams of
 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                                                          ⁄
SHORT STORIES                                      NEWS REVIEW                       SPECIAL FOCUS                                 IBOA NEWS

                               What kept me going was h                                                                 h       ng out, unable to do any-
                          alternative of limping b                                                                              about it.
                          home past the neighbours l                                                                         Within half an hour I could
                          than two minutes after I had                                                                            again and an hour later,
                          off. I decided to hang in there                                                                       a painful struggle up the
                          I walked for a bit, then stepp                                                                       , I lay in a steaming hot
                          up to an energetic stroll.                                                                             I climbed out just as my
                               My heart was pounding,                                                                          began to shrivel up, dried
                          arms and legs ached. I was str                                                                       lf off and clambered into
                          gling for breath and, thanks to                                                                       tterly exhausted.
                          wife, I could hardly see wher                                                                        decided to waive my con-
                          was going as the swea                                                                                 rights, as much to protect
                          streamed into my eyes. I wa                                                                          eputation as anything else,
                          having a hard time convincin                                                                         was asleep in 9.4 seconds,
                          myself that this was better th                                                                         within Olympic qualify-
                          watching Match of the Day.                                                                           me.
                               But I kept going in the be                                                                        slept the sleep of the
                          that the long-term benefits of                                                                      eous and dreamed of gold
                          journey to health and fitn                                                                            ls, cheering crowds and, in
                          would outweigh the short-te                                                                          of the righteousness, finely
                          cost of getting there. My sti                                                                         ted female athletes from
                          eased so I increased my speed                                                                         ern Europe. I imagined
                          2mph.                                                                                                warm embraces after I had
                               For the next 15 minute                                                                          ed from the podium, where
                          plodded on manfully, fear                                                                              just been presented with
                          that at any moment the pol                                                                           old medal for winning the
                          would slap a “Slow Mov                                                                              metres and set a new world
                          Load” sign on my back or charge                                                               record to boot.
                          me with loitering.                                        from next door, later told me            There was no explanation
                                                                                    that the only thing that gave the
                                                              Sweat flowed
                               As I neared the end of the                                                               in the dream as to why there
                          run I made sure to keep enough                            game away was the white froth       were so many women at the
                                                              from every pore,
                                                                                    on my lips and the slabbers

                          in reserve to finish with a         attracting the dog,                                       men’s medal ceremony so I put it
                          flourish and impress all my                               dangling from my chin.              down to my newly found animal
                                                                                        Once inside, I flopped on to
                                                              which proceeded to
                          cynical neighbours that this                                                                  magnetism.
                          vigorous effort was not taking
                                                              lick my face while    the sofa, gasping and groaning           The next day I felt fine and
                          too much out of me.                 I lay there with my   and staring longingly at the re-    promised myself another jog in
                               I turned the corner into our                         mote control. Sweat flowed from     a day or two, as you don’t want
                          street, and sprinted, at almost                           every pore, attracting the dog,     to overdo these things and any-
                                                              tongue hanging
                          3mph, over the last fifty yards.
                                                              out, unable to do     which proceeded to lick my face     way the Olympics were on tele-
                          Robert, the lawnmower man           anything about it.    while I lay there with my tongue    vision and might provide a few
                                                                                                                        more tips.
                                                                                                                             The day after that I promised
                                                                                                                        myself I would never run again.
                                                                                                                        Every muscle in my body ached,

                                                                                                                        tying my shoelaces was out of
                                                                                                                        the question and I could only
                                                                                                                        get about if I stumbled around
                                                                                                                        like a cross between John Wayne
                                                                                                                        and a tortoise with a dodgy hip.
                                                                                                                             Somehow I managed to get
                                                                                                                        through the day and that night I
                                                                                                                        told my wife we’d have to find
                                                                                                                        another solution to getting rid of
                                                                                                                        my beer gut. “You could always
                                                                                                                        stop drinking beer,” she said –

                                                                                                                        somewhat malevolently, I thought.
                                                                                                                             My heart pounded, my legs
                           The Physio Company is a growing chartered physiotherapy company with                         buckled and I broke into a sweat.
                                                                                                                        It felt a bit too much like jogging
                           21 clinics already in operation across Cork, Waterford, Galway & Dublin.                     for my liking. “I’ll tell you what,
                           On production of their Union card, IBOA members are entitled to:                             you can stop putting gravy on
                           • E10 discount on treatment charges                                                          my chips,” I suggested.
                           • Preferred Appointment Times                                                                     Looks like I’ll have to pass on

                                                                                                                        that Olympic medal.
                           • Free 15 minute Assessment

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

 Levels of personal debt reaching alarming levels
 A    round 1,820,000 people in the
      Republic are left with E100 or
 less each month after all their bills are
                                             portion rely on financial help from
                                             family and friends, 30% use the credit
                                             union, 10% rely on their bank and
                                                                                          is followed by car fuel (E145 per month),
                                                                                          daily lunches (E110 per month) 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
 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
                                                                                                                                      IBOA THE FINANCE UNION

 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

                                                                                          july 2012                  SPECTRUM              53
SHORT STORIES                                NEWS REVIEW                                   SPECIAL FOCUS                                         IBOA NEWS


                                             IS THIS THE FIRST LESBIAN HEROINE                                                       GAME TIME with
                                             IN AN ANIMATED FEATURE FILM?                                                            George Hamilton
                                             The character of the feisty Scottish princess, Merida, in the new Pixar movie, Brave,   Irish soccer licks its wounds after Euro
                                             is causing a stir among the chatterati in America. Is she really a gender mould-        2012. Are there lessons to be learned
                                             breaker or is she simply a refreshing change from the saccharin-sweet stereotype        or is qualification the most we can ever
                                             of a cartoon princess?                                                                  aspire to, asks George Hamilton.
                                                                                                                  See Page 57                            See Pages 58-59

                          I've often stood
                          silent at a

                          party for hours    PRIZE QUIZZES                                ULTRA VIOLET with Stephen Malone
                          listening to my
                          movie idols        Take a break with our prize quizzes –        In this issue, Malone discovers a new candidate to take over as CEO in Barclays.
                          turn into dull     the crossword, the picture board and         He realises why RBS reminds him so much of a motley band of vigilantes. He
                          and little         sudoku. Meet the challenge and enter         finds out why Spain still has a soft spot for Anglo Irish Bank. And he offers an
                                             for cash prizes ranging from E30 to          even stiffer challenge for the team behind the Large Hadron Collider now that the
                          people.                                                         Higgs boson has been identified.
                            Marilyn Monroe
                                                               See Page 60-61                                                                          See Page 62-63

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

 T    hrough their long and
      wild career, the Rolling
                                                                                                           company, the Interview People
 Stones 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          Knopfler, Blur, Oasis and
 side, is a massive two-part col-   vocalist, Keith Richards, performing with the Expensive Winos at the
 lection of the best journalistic                                                                          Radiohead.
                                    Aragone Ballroom in Chicago, Illinois in 1987 (Photo: Getty Images).       The recommended retail
 material spanning the band’s
                                                                                                           price for the e-book is $14.99 –

     It includes feature articles
                                    Previously unreleased interviews,                                      but is likely to be available on
 from Rolling Stone magazine                                                                               Amazon for less. It is being
                                                                                                           published in both epub and
 Britain’s Daily Mail and Daily
                                    articles and more published in
 Express newspapers with every-     new e-book anthology                                                   mobi formats. So it can be
 one from girlfriends and wives                                                                            downloaded to most popular
 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
 1 covers the first 25 years of                                                                            answer to the question below,
 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-                                                                           to Spectrum, IBOA The Finance
                                                                                                                                              IBOA THE FINANCE UNION

 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
 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 which is a                                                                               Hanspeter Künzler is pub-
 new venture from the inter-                                                                               lished by the eBook People
 national interview syndication                                                                            (

                                                                                                   july 2012                  SPECTRUM             55

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

                                                                                             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
 won’t come!
 A    lthough they are now a few
      centuries past their polit-
 ical prime, princesses still seem
                                     Merida is not
                                     the typical
                                                     China than any cultural or social
                                                          Disney’s animation partner,
 to exert an almost inexplicable                     Pixar – another of the large pies        Odeon Movie Club at
 fascination in popular culture      Disney          in which the late Steve Jobs had
  – with a global television                         a finger – has gone one better in
                                                                                               Old Harcourt Street
 audience of 300 million said        princess        its new offering, Brave, which             Station in Dublin
 to have watched Catherine                           stars Merida, the flame-haired,         Watch classic movies on the big
 Middleton marry Prince              – and what’s    bow-wielding teenager – whose           screen while you relax in big
 William in Britain last year.                       singular lack of interest in the        armchairs. During the film you
      Disney’s princesses have
                                     more she’s      three princes seeking her hand          can enjoy full waiting service for
 traditionally been sweet and at                     has prompted debate in the US           tasty food or simply sip away on
                                                     among people who ponder such
                                                                                                                                  IBOA THE FINANCE UNION

 times simpering souls – looking                                                             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
 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.   for reservations.

                                                                                     july 2012                   SPECTRUM              57
SHORT STORIES                                      NEWS REVIEW                             SPECIAL FOCUS                                  IBOA NEWS

                              GAME TIME

                          After Poland-Ukraine...

                          I s it really better to travel in
                            hope than to arrive? No
                          doubt the fans who won them-
                                                                   How cruelly were the short-
                                                              comings exposed. How cruel too
                                                              that Damien Duff’s 100th cap,
                                                                                                   DIFFERENT CLASS:
                                                                                                   Ireland’s centre back,
                                                                                                   Seán St. Ledger, attempts
                                                                                                                                   To the extent that theirs was
                                                                                                                               a team blessed with outstanding
                                                                                                                               talent, the answer is undoubtedly
                          selves an award as the best at      not to mention McGeady’s and         to tackle Andres Iniesta    yes. But then their chequered
                          Euro 2012 were happy to arrive,     Doyle’s 50th, should have taken      of Spain in the Euro 2012   history suggests that for every up,
                          experience, and then depart,        place against such a backdrop of     group game in Gdansk,       there will be a down. Our past

                          all hope extinguished. Sure,        disappointment.                      Poland last month (Photo:   hinted at a glorious challenge,
                          isn’t it part of what we are?            Ireland’s three performances    INPHO/Donall Farmer).       eve though ultimate disappoint-
                              The end justified the means.    amounted to a catalogue of failure                               ment would be inevitable.
                          That was the motto, the mantra,     that is equal to the worst there’s                                   There is the key. This was not
                          as qualification was celebrated.    ever been in European Finals.                                    ultimate disappointment. This
                          And we did travel in hope. For           At a month’s remove, it’s no                                was disappointment from the
                          the first time since 2002.          less difficult to acknowledge the                                third minute of the opening half
                              That brave generation, two      chasm that exists between what                                   of the opening game. And the
                                                              the Irish team was able to offer                                 third minute of its second half.
                          of whose number had smashed
                                                              and what counted as the going rate                               A pattern repeated with an eerie
                          records in the course of a barren
                                                              at the Euros. Sure, Holland, too,                                exactness when the team took to
                          decade – Shay Given for inter-
                                                              departed without a single point.                                 the field for its second fixture.
                          national appearances, Robbie
                                                              Was their failure not more abject?
                          Keane for international goals,


                          now had the opportunity to crown

                                                                   10% discount for IBOA members
                          distinguished careers perform-
                          ing among the elite.
                              Damien Duff would be there
                          too, another veteran of the Far
                          East trip, and Richard Dunne
                          who’d travelled then but hadn’t               on trips to major sporting events
                                                                          in Britain, Scotland and Spain –
                          made it off the bench.
                              John O’Shea, the only other

                                                                   as well as other holiday attractions in Britain.
                          in the squad who’d already been
                          capped at the time of the 2002

                          World Cup, was another whose
                          time had surely come.
                              The elite, the backbone of        For more information phone 00-353-1-6292000 or 00-353-21-4377501,
                          the team, alongside newer talents
                          like McGeady and Doyle, not to        e-mail: or
                          mention Whelan and Andrews,
                          who amassed experience amount-        visit our website at
                          ing to 165 caps between them
                          when the Poland/Ukraine Finals
                          rolled around.

    58                    SPECTRUM                     july 2012
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.
      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
                                                                                                              an opportunity of redemption.
   McInerney Sports                                                                                               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
                                                                                                              footballers must dream of, over
  10% discount for IBOA members
                                                                                                                                                     IBOA THE FINANCE UNION

                                                                                                              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
                                                                                                              her own efforts has blasted her
                                                                                                              sport on to the Olympic schedule.
                    in Britain, Scotland and Spain.
                                                                                                                  We yearned for so much
                                                                                                              from Poland. We left frustrated,
                                                                                                              but unbowed. Now London’s
                  For booking call 1850- 206080 from the Republic

                    or 00-353-61-228022 from Northern Ireland.                                                calling. This may yet be a golden

                                                                                                      july 2012                    SPECTRUM               59
SHORT STORIES                                          NEWS REVIEW                                 SPECIAL FOCUS                                                            IBOA NEWS

                                WIN                                                                                       PRIZE CROSSWORD
                                                                                                             Across:                                               Down:
                            A prize of E50 will be awarded to the first entry
                                                                                                             1. City in South-East                                 1. Ringo (5)
                            drawn from our post bag after the closing date.
                                                                                                                 Asia (9)                                          2. One who lives near (9)
                                                                                                             6. Hurl (5)                                           3. Terminal global
                                                                                                                                                                       conflagration (10)
                                                                                                             9. Spanish friend (5)
                                                                                                                                                                   4. Supervise (7)
                                                                                                             10. Universal language (9)
                                                                                                                                                                   5. Uses up (7)
                                                                                                             11. Practising (10)                                   6. Kind (4)
                                                                                                             12. Mark of old wound (4)                             7. Style of Greek
                                                                                                             14. Devotee (7)                                           architecture (5)
                                                                                                             15. Set in motion (5,2)                               8. Academic subject (9)
                                                                                                             17. Coffee maker (7)                                  13. One caring for infant
                                                                                                             19. Long journey (7)                                      (10)
                                                                                                                                                                   14. Judge (9)
                                                                                                             20. Ballet dress (4)
                                                                                                                                                                   16. Will (9)
                                                                                                             22. Lacking decorum (10)
                                                                                                                                                                   18. Loss of memory (7)
                                                                                                             25. Evaluation (9)                                    19. Cover partly º(7)
                                                                                                             26. Fear (5)                                          21. Subject (5)
                                                                                                             27. Surpass (5)                                       23. Finished (5)
                                                                                                             28. Breathed in (9)                                   24. Post (4)

                                                                                                             Name ............................................................         Union No ..............

                                                                                                             Address ...........................................................................................


                          PREVIOUS SOLUTION                                                                  E-mail Address ................................................................................
                          Across: 1. Jerusalem; 6. Bible; 9. Navel; 10. Velodrome; 11. Heartbreak; 12.
                                                                                                             Employer...................................           Branch/Dept.............................
                          Snag; 14. Quintet; 15. Disdain; 17. Engross; 19. Academy; 20. Ulna; 22. Break-

                          Down: 1. Jonah; 2. Revealing; 3. Salutation; 4. Leveret; 5. Mallard; 6. Bide; 7.
                          aways; 25. Overboard; 26. India; 27. Sleet; 28. Menagerie.                         A prize of E50 will be given to the sender of the first correct
                                                                                                             entry drawn from our post bag on September 1, 2012.
                          Brown; 8. Emergency; 13. Escalating; 14. Querulous; 16. Alexander; 18. Sarcasm;    Entries should be sent to Crossword, Spectrum, IBOA – The

                          19. Abandon; 21. Niece; 23. Snare; 24. Abet.                                       Finance Union, IBOA House, Stephen Street Upper, Dublin
                          The winning entry for the prize crossword competition in the last issue was        8. A photocopy of the grid is acceptable if you prefer not
                          submitted by Michael Power of Waterford City.                                      to cut up the magazine.

                                         10% discount on any mobile phone* or mobile accessory
                                              for IBOA members in the Republic of Ireland.
                                                                                   *except the Apple i-Phone

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

           WIN                                                                                                                          PICTURE BOARD

                                                                     2                                                     3                        4

        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

           WIN                                                                                                                                      SUDOKU
                          warded to the sender of the first
                                                                                                                           2        3               4        

                                                                                                                                    9    3
 correct entry drawn from our post bag on September

 1, 2012. All entries should be sent to Sudoku, Spectrum,
 IBOA – The Finance Union, IBOA House, Stephen Street

                                                                                                                           5    8                            4
 Upper, Dublin 8. You can submit your entry on a photo-
  opy of the grid – if you would prefer not to cut up the

                                                                                                                                6             3     9            4
 magazine. The winning entry for the Sudoku Challenge
 in the last issue was submitted by Paul Gibson of

                                                                                                                                         8    5     6
 Banbridge, Co. Down.
                                                                                                                                                                       IBOA THE FINANCE UNION

 Name....................................................... Union No: ...................................
                                                                                                                           8             1    4              3
 Address .........................................................................................................
                                                                                                                                3                            9   1

 E-mail Address ..............................................................................................
                                                                                                                                    4               1   6

 Employer.................................. Branch/Dept...............................................
                                                                                                                                         6              4        5

                                                                                                                                        july 2012           SPECTRUM        61
SHORT STORIES                                   NEWS REVIEW                         SPECIAL FOCUS                            IBOA NEWS

                            ULTRA VIOLET

                                                                                                                     To add colour to the story,
                          Big deal is no big deal!                                                               Lin told journalists that the

                                                                                                                 US bank had been in operation
                               id you hear the one about the Chinese rice trader who claimed to have bought a    for 85 years under Jewish
                               US bank for a bargain price?                                                      management, whose business
                                                                                                                 skills are stereotypically highly
                              Lin Chunping became a celebrity in China when it was reported in January that he
                                                                                                                 regarded by many Chinese.
                          had acquired the Atlantic Bankin Delaware for $60m after spending two years in
                                                                                                                     News of the acquisition led
                          negotiations to buy the bank which had filed for bankruptcy in 2008 as the financial
                                                                                                                 to a major political appointment
                          crisis began to bite.                                                                  in his local area in recognition
                                                                                                                 of his “legendary” business
                                                                                                                 expertise – which, of course, is
                                                                                                                 precisely what it proved to be –
                                                                                                                 in the sense that it was entirely
                                                                                                                     When Chinese journalists
                                                                                                                 checked into the story, they
                                                                                                                 found that not only did he not
                                                                                                                 buy Atlantic Bank in Delaware –
                                                                                                                 but that there was no Atlantic
                                                                                                                 Bank in Delaware.
                                                                                                                     The 41-year-old is now
                                                                                                                 under arrest for an unrelated
                                                                                                                 fraud and has been forced to
                                                                                                                 give up his municipal-level
                                                                                                                 appointment to the Chinese

                                                                                                                 People’s Political Consultative
                                                                                                                 Conference, the government’s
                                                                                                                 top advisory body.
                                                                                                                     When his banking fantasy
                                                                                                                 was exposed, Lin said he had
                                                                                                                 ‘exaggerated’ in order to raise his
                                                                                                                 social status and to secure future
                                                                                                                 opportunities in banking.
                                                                                                                     With an approach like that
                                                                                                                 he could well have a future as
                                                                                                                 the Chief Executive of a major
                                                                                                                 financial institution in the West.

                                                                                                                 Has anyone alerted Marcus

                                                                                                                   Head Hunter: Marcus Agius of

    62                    SPECTRUM                 july 2012
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
 I the new Spanish Govern-
 ment does not bear grudges.
                                                                                             and easing doubts about the
                                                                                             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
 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                                                                  be in preliminary talks with
 were selected to provide an        Spanish Government appoints                              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
                                     team rejects
                                     RBS request?
                                     There is no truth in the rumour
                                                                                                                               IBOA THE FINANCE UNION

                                     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

                                                                                     july 2012                SPECTRUM              63

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