Ulster Bank CEO should resign – Deputy Seán Crowe

Speaking after an Oireachtas Finance Committee hearing on the on-going chaos at Ulster Bank Dublin South West Sinn Féin TD Seán Crowe has called on the bank’s Chief Executive Officer Jim Brown to resign.

Deputy Crowe said it was now time for Mr Brown to accept responsibility for the failures in the Bank and that when its IT problems are eventually resolved he should consider his position and resign.

Deputy Crowe said:

“The chaos caused by the IT system crash at Ulster Bank has caused untold disruption to the lives of up to half a million Ulster Bank customers as well as to the customers of other banks.You only have to walk past the Ulster Bank in Tallaght Village to see the long queues of frustrated customers.

“It is unacceptable that the backlog caused by the bank’s system failure will not be cleared for another two weeks.

“While the bank dithers the service continues to plummet, customers have been left out on a limb, with Ulster Bank Credit Cards refusing to pay out, stating erroneously ‘insufficient funds in account’.

“During this week’s Finance Committee meeting in the Dáil, my party colleague Pearse Doherty challenged Ulster Bank CEO Jim Brown to accept responsibility for the failure in the bank, to accept that the buck stops with him, and that when the mess is eventually cleared up to consider his position and resign.

“While Mr Brown agreed that he was accountable for what went on at Ulster Bank it was far from clear that he was accepting the responsibility for the on-going chaos. It is also wrong that despite the weeks of crisis started at the bank, he delayed until yesterday ruling out accepting his bonus for this year.”