AIB chair Jim Pettigrew to step down in late 2027 as AIB prepares a search for his successor

AIB Group chair Jim Pettigrew has told the board that he intends to step down in late 2027, by which time he will have served six years in the role, AIB said in an announcement made under the listing rules of Euronext Dublin and the UK. He informed the board of his plans as part of succession planning discussions, according to AIB.

The board's Nomination and Corporate Governance Committee will start a search for a new chair, in a process overseen by Elaine MacLean, the senior independent director. AIB said a further announcement, including details of the effective date of any change, will be made when this is known.

SIX YEARS IN THE CHAIR

The announcement cited Euronext Dublin Listing Rule 6.1.5 and UK Listing Rule 6.4.6. AIB's shares stood at 964.00 pence, down 0.2%, on Friday afternoon in London.

Mr Pettigrew became chair of AIB in October 2021. He has over 37 years of leadership experience in the UK and in financial services, including board-level roles as chief executive officer and as chair.

FROM VIRGIN MONEY TO AIB

AIB appointed him as a non-executive director and chair after a selection process led by the senior independent director, Carolan Lennon. He succeeded Richard Pym. Brendan McDonagh, then vice-chairman and acting interim chairman, had withdrawn his candidacy for personal reasons, the Irish Times reported.

Before joining AIB, he had retired as chair of Virgin Money and CYBG (Clydesdale Bank), having overseen the bank's demerger from National Australia Bank Group, its IPO and its acquisition of Virgin Money. He was also chair of Scottish Financial Services, the Scottish financial services trade body, co-chaired Scotland's Financial Services Advisory Board with the First Minister of Scotland and is a former president of the Institute of Chartered Accountants of Scotland.

Separately, chief executive Colin Hunt announced at the COP31 climate talks in Turkey that AIB is doubling its green and transition lending target from €30 billion to €60 billion by 2030, RTÉ reported.

THE TGB VIEW

AIB ranks 49th in the TGB Bank Rankings of the largest banks in Europe, with US$174.1bn of assets, US$17.3bn of equity and a 14.6% return on equity at the end of 2025. That places it one spot behind Bank of Ireland, which has the larger balance sheet at US$193.6bn of assets but less equity, at US$15.2bn, and a 9.3% return on equity. AIB's next chair will inherit a bank with an equity-to-assets ratio of 9.9%, against 7.8% at Bank of Ireland, and a €60 billion green and transition lending target for 2030 to deliver.