Dublin – 3 December 2018 – Today the Irish Banking Culture Board (IBCB) Establishment Office has announced that Mr. Justice John Hedigan has been appointed to the role of Chairman of the new independent IBCB. The Board is an initiative of the banking industry which is aiming to rebuild trust in the sector and embed a customer-first culture. The appointment follows a competitive process led by an independent selection panel comprising Dame Colette Bowe, Chair of the Banking Standards Board in the UK, Sir Callum McCarthy, former Head of the Financial Services Authority in the UK and Dr Martin McAleese, former member of Seanad Éireann. Mr. Justice John Hedigan was, until his recent retirement, a judge of The Court of Appeal in Ireland. Prior to that, he was a judge of The High Court from 2007 until 2016. From 1998 until 2007 he was a judge of The European Court of Human Rights. In establishing the IBCB, the Chair will draw on the findings of a comprehensive consultation process announced in September this year to shape the purpose, structure and initial terms of reference of the independent Board. This process included a banking staff survey, an online public consultation (at www.irishbankingcultureboard.ie) and stakeholder interviews with representatives from wider Irish society.
Colette Bowe, Chair of the selection panel for the appointment, said: “I am delighted that John has agreed to become the first Chair of the Irish Banking Culture Board. His professional experience and strong interest in improving banking culture for the good of Irish society will ensure that the IBCB gets off to the best possible start and I wish him every success in the role.”
Mr. Justice John Hedigan said: “I am honoured to have been appointed as Chair of the Irish Banking Culture Board. This is a challenging but most worthy endeavour. I am greatly looking forward to working with the new Board and engaging with all stakeholders, particularly bank customers, in facilitating and encouraging the highest standards of ethical conduct in this vital industry.”
Marion Kelly, Programme Director of the IBCB Establishment Office, said: “I am very pleased that the IBCB will be chaired by John Hedigan. John recognises that people’s confidence in the Irish banking sector has been shaken and the creation of this independent Board is part of a determined effort by the banks to introduce real and lasting cultural reform, for the benefit of those who matter most: bank customers. John’s extensive legal experience, including 9 years on The European Court of Human Rights, makes him well qualified to be the first IBCB Chair. We are lucky that we will have an individual of John’s calibre leading the IBCB and he will have the full support of the five founding member banks in his role.”
Mr. Justice John Hedigan will take up his role at the IBCB in January 2019. The IBCB Chair will be accountable to the independent Board, who will evaluate performance on an ongoing basis. The ongoing public consultation (www.irishbankingcultureboard.ie) to inform the establishment of the Irish Banking Culture Board (IBCB) will close on Monday 10th December at 5pm. The full findings of the wider consultation process will be published in Spring 2019. -ENDS- Notes to editor: 1) Mr. Justice John Hedigan was called to the Bar of Ireland in 1976 and became a senior counsel in 1990. He is a member of the Bar of England and Wales and of the Bar of New South Wales. Mr. Justice John Hedigan was, until his recent retirement, a judge of The Court of Appeal in Ireland. Prior to that, he was a judge of The High Court from 2007 until 2016. From 1998 until 2007 he was a judge of The European Court of Human Rights. Judge Hedigan also represented the Irish Courts on The European Network of Councils of the Judiciary and served as a member of its executive board. He coordinated a number of ENCJ projects on the independence and accountability of the judiciary in Europe. From 1992 until 1994 he chaired The Civil Service Disciplinary Appeals Board. He is currently chair of the National Archives Advisory Council and is Judge in Residence of Dublin City University School of Law and Government. Judge Hedigan is a member of the Judicial Council of The International Association of Law Schools. He lives in Dublin and is married to Emer Kilcullen, formerly of the Department of Foreign Affairs. Mr. Justice John Hedigan was educated in Belvedere College, Trinity College Dublin and Kings Inns. 2) The process to select and appoint the other members of the Board of the IBCB will commence in January 2019, led by Judge Hedigan, with the support of the IBCB establishment office. 3) The IBCB is a banking industry initiative which aims to rebuild trust in the sector and embed a customer-first culture. The IBCB will not act as a lobbying or representative organisation. It will not act as a regulatory body nor duplicate the work of individual banks or the regulator. The establishment costs and annual running costs associated with the IBCB are being funded by the five Irish retail banks: Allied Irish Banks, Bank of Ireland, KBC Bank Ireland, Permanent TSB and Ulster Bank. Once established, membership will be open to the wider banking sector – with membership criteria to be determined by the Chair, upon their appointment.