Frequently Asked Questions


Establishment of the IBCB

Who are the members of the Board?

The members of the Board are :

  • Mr. Justice John Hedigan, Chairman of the IBCB
  • Marion Kelly, Acting CEO of the IBCB
  • Angela Black, Chief Executive, Citizens Information Board
  • Professor Blanaid Clarke, McCann FitzGerald Chair in Corporate Law at Trinity College Dublin
  • Lavinia Morris, Chief Operations Officer,  KBC Bank Ireland
  • Jane Howard, CEO, Ulster Bank
  • Padraic Kissane, Padraic Kissane Financial Services
  • Ger Mitchell, Group HR Director, Permanent TSB
  • Robert Mulhall, Managing Director, AIB Consumer Banking
  • Vincent Mulvey, Group Chief Risk Officer, Bank of Ireland Group
  • Gareth Murphy, Head of Industrial Relations and Campaigns, Financial Services Union
  • Philip O’Leary, Managing Partner, Head of Commercial Department, FitzGerald Legal & Advisory
  • Sue O’Neill, Chair of the Small Firms Association (SFA) and Managing Director of Shellcove (AMC)
  • Martin Stapleton, Chair of the Farm Business Committee, Irish Farmer’s Association (IFA)
Who ran the public and stakeholder consultation process?

The IBCB Establishment Office engaged Edelman to run the public and stakeholder consultation.

What was the rationale for the public and stakeholder consultation?

In late 2017, the five retail banks in Ireland (Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB and Ulster Bank) announced the creation of a new independent entity – the Irish Banking Culture Board – to rebuild trust in the banking sector and embed a customer-focused culture. We wanted to hear the views from as wide a range of groups as possible relating to the structure of an Irish Banking Culture Board, who should be represented on that board, how it should be governed and most importantly, the priority areas that it should focus on. The guiding principle behind this programme is that only change that comes from within and is informed by public perspectives can be authentic and sustainable.

Who ran the Employee Culture Survey process?

The UK Banking Standards Board (BSB) were contracted to run the survey of banking staff. The BSB conducts an annual survey of more than 72,000 UK banking employees, making it the largest of its kind.

When will the IBCB’s work programme be announced?

Following the launch of the IBCB and the appointment of the IBCB’s Board members in April 2019, the Board will meet to consider the findings and decide on the IBCB’s work programme. This work programme will then be announced in Autumn 2019.


What’s the purpose of the IBCB?

The IBCB is an initiative of the industry and a strong signal of intent from within the sector of its desire to foster a sustainable banking culture that adheres to the highest levels of professionalism.

The industry fully recognises that people’s faith in banking has been damaged. The establishment of this Board is about laying the foundations for authentic, sustainable cultural change that is guided by the views of banking and non-banking stakeholders and driven from within the banks themselves.

Will the Board operate independently of the banks?

While the IBCB is an initiative of the banking industry and is being funded by the five retail banks (Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB and Ulster Bank), the Board will be an independent entity led by an independent, non-banking Chairperson, Mr. Justice John Hedigan. The purpose, structure and initial terms of reference (ways of working) of the Board are being shaped by comprehensive consultations, involving banking and non-banking stakeholders and including the general public.

How will this Board differ from other financial bodies and what power will it have to drive change within the industry?

The IBCB will have a singular focus on culture. Its goal is to act as a transformative influence on culture within the banking sector – promoting and measuring an environment in which: ethical behaviour is made inevitable; fair customer outcomes are achieved; and reputation for competence is rediscovered.

Will the Board issue standards for member banks?

The Board will not act as a regulatory body nor duplicate the work of individual banks or the regulator.

Who is responsible for the financing of the IBCB?

The establishment costs and annual running costs will be fully funded by the five main retail banks and founding members of the IBCB: Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB and Ulster Bank. This is indicative of the industry’s commitment to fostering a sustainable banking sector that adheres to the highest standards of professionalism.

What is the nature of the IBCB’s partnership with the Institute Of Banking?

Education is key to cultural change and we are actively supporting two new University College Dublin accredited programmes developed by the Institute of Banking and the Association of Compliance Officers of Ireland. These programmes are focused on leading and managing effective cultural change in the financial services industry – staff from each of the five member banks commenced the programmes in Q1, 2019.