Government doing 'everything possible' to save 750 bank jobs

MINISTER FOR Enterprise, Jobs and Innovation Richard Bruton travelled to Carrick-on-Shannon yesterday to assure the 750-strong workforce at Bank of America that the Government would “leave no stone unturned” in its effort to secure jobs there.

But two weeks after the company announced it was leaving the credit card business in England and Co Leitrim, the Minister and senior IDA executives made it clear they did not expect a buyer to emerge in the short term and they were currently “at the start of a process”.

Mr Bruton spent almost 90 minutes meeting management and staff representatives at the bank offices. He then briefed local Oireachtas members and Leitrim county councillors and later had a short meeting with a delegation from Carrick-on-Shannon Chamber of Commerce.

The Minister later said all agencies had been mobilised by the Government to “exhaust every avenue” in the bid to have the operation – formerly MBNA – sold as a going concern, thus securing the maximum number of jobs.

“We are absolutely determined to do everything possible,” said Mr Bruton who will travel to the US in three weeks to meet senior Bank of America executives.

He said he believed it was important before travelling to the US, to meet local company representatives and he stressed the IDA was acutely aware of how important the company was to Carrick-on-Shannon.

Pressed on whether there were any concrete expressions of interest, Mr Bruton said that this was just the start of a process. He said the Government was very conscious of the need to keep in very close contact with the process as efforts continued to secure a buyer.

The Minister agreed there were “legitimate fears out there” about the future of the Leitrim-based jobs amid speculation that a prospective buyer might be interested only in the English part of the business.

But he stressed there was no deadline looming and following the announcement on August 15th last the company was actively involved in the search for a buyer.

Mr Bruton said both management and workers at the Carrick offices were “very positive”.

He added that the workforce had already proven how flexible it was, and the Leitrim operation was a very strong performing unit.

One of the strengths for Leitrim was that many of the senior executives in Ireland and the US had come from this area, he added.

IDA chief executive Barry O’Leary said it was much too early to speculate on prospective buyers.

He said that if the optimum solution was not achieved there was always the possibility that a company “requiring the same skills set” would be interested.

Mr O’Leary stressed the Carrick base had many attractions for prospective buyers, including the workforce, the amount of investment in the town and the facility. But he warned that a buyer could not be found “with a click of the fingers”.

Chairman of Leitrim County Council Cllr John McTernan said the local authority had put in a lot of infrastructure for Bank of America and would be prepared to do so for whoever takes over.

“Whoever decides to buy it, we will not be found wanting and we will work alongside them,” he said yesterday.

Gerry Faughnan, president of the local chamber of commerce said there was a lot of worry locally about people’s livelihoods but “we have to be hopeful.

“Nothing will happen overnight. People need to realise that.”

In a brief statement after the visit, Bank of America said it had met Mr Bruton and the IDA and was “continuing to engage in open and positive dialogue”.

It added: “We acknowledge and appreciate the support offered by the Minister and the IDA”.