Chief Minister Allan Bell MHK has expressed his disappointment and sadness over the news that Allied Irish Banks (AIB) is to wind down its business in the Isle of Man by the end of next year.
AIB announced today (Thursday April 5) that as part of an ongoing strategic review it had decided to cease operations in the Isle of Man and Jersey by December 31, 2013.
The Chief Minister commented:
‘AIB is a significant employer in the Island’s finance sector, with a workforce of 115 people, and it has been established here for many years. I am extremely disappointed and saddened by this announcement, particularly on behalf of the staff who regrettably have been given the bad news just before the Easter holiday. I do hope that staff will be successful in finding alternative employment in due course and I know that the Department of Economic Development will be on hand to support them in that regard. In the meantime I have written to the AIB chief executive in Ireland to express my strong concerns over the bank’s handling of this matter.’
Mr Bell concluded:
‘Today’s announcement by AIB is no reflection on the Isle of Man as such, and is clearly part of the bank’s plan to focus on its domestic market back in Ireland. However, this is another stark warning that the Island must drive forward with further economic development and diversification if we are to create fresh job opportunities for the future.’
