AIB Bank’s caretaker leadership to face angry shareholders at its AGM; “As long as the music is playing, you’ve got to get up and dance”
May 13th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
AIB Bank's caretaker leadership will face angry shareholders at its annual general meeting (AGM) today. Three years ago, at the height of the property boom, it sold part of its Dublin headquarters facility to an already stretched developer Seán Dunne and today, Ireland's biggest bank has been humbled by its dalliance with developers. Citi chief Chuck Prince had famously said to the Financial Times on July 10, 2007: “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.” Things will be complicated for AIB for some time to come as they continue to be for Citi.