Gerry Mallon ULSTER BANK
FROM: Belfast AGE: 47 TENURE: Appointed June 2016 SALARY: ‘A private matter’, says Ulster Bank. Mr Mallon is understood to be living in an exclusive apartment residence connected to one of Dublin’s most luxurious hotels. Residents benefit from a concierge service, select membership access to the hotel’s extensive business centre and conference facilities, and to its luxury health spa with infinity pool, sauna, steam room, treatment rooms and gym. Residents can also avail of the full hotel services including room service, housekeeping and priority reservations with its feature restaurant. BACKGROUND: Mr Mallon was educated at Cambridge, where he excelled at rowing. Chairman of the IFA in the North, having taken up the role in mid-2014, Mr Mallon is an ardent Liverpool fan and regularly attends games. He describes himself as an ‘old rocker’ with a particular soft spot for AC/DC. WHAT DID ULSTER BANK DO ON TRACKERS: Ulster Bank saw the number of its customers impacted by the tracker controversy swell from 2,000 in December to 3,500 in June. Mr Mallon said two weeks ago that customers have been returned to the correct rate, though it had only started paying redress and compensation.
The bank set aside €206 million last year to cover costs associated with the examination project and remediation.
It estimates that the number of customers who lost their homes as a result of overcharging is likely to be less than the 14-15 cases indicated last December.
Ulster Bank also revealed in August that it had taken a €39 million additional charge after it uncovered fresh ‘errors’ in its personal and commercial loan accounts when working through its tracker books. The bank has been the subject of a Central Bank enforcement investigation for the past year and a half. MR MALLON’S RESPONSE TO QUERIES: What message do you have for the Irish public ahead of your meeting with Minister Donohoe next week? ‘We are absolutely not dragging our feet. Late hours are being worked and a great deal of effort is being put in. I can imagine that the frustration and anguish among customers is dreadful.’ Would you like to apologise for the conduct of your bank on this issue? ‘I reiterate the apologies I have made in relation to this.’