Retired Judge John Hedigan appointed first chairman of Banking Culture Board
Retired Judge John Hedigan has been appointed as the first chairman of the new Banking Culture Board.
The Irish Banking Culture Board (IBCB) Establishment Office has announced today 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 board was set up following the tracker mortgage scandal and in an effort to help change the culture in Irish banks.
The former Court of Appeal Judge will shape the purpose, structure and initial terms of reference of the Board using the findings from a consultation process announced in September to help structure the initial focus.
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.
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.
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.”
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."
Mr Justice John Hedigan will take up his role at the IBCB in January 2019.
