Possible transfer of up to 270 Ulster Bank staff to AIB

The Financial Services Union has reached agreement with AIB on a set of proposals covering Ulster Bank staff transferring to AIB as part of the sale of Ulster Bank.

The Union will open a ballot of all relevant Union members on the proposals today (June 1) and concluding on June 16.

Members who are in scope to transfer will have to consider when voting issues ranging from hours of work to new pension arrangements and from job grading to company policies.

Commenting on the negotiations, Gareth Murphy, head of Industrial Relations and campaigns with the FSU, said: “The negotiations were tense and not without friction, but it is good we can now offer clarity to our members on proposals for transfer.

“The FSU has consistently advocated that if at all possible, Irish loans should be transferred to Irish banks to allow as many jobs to be saved as possible.

“These proposals, if accepted would mean the transfer of up to 270 Ulster Bank staff to AIB.

“There is lot of detail involved and the Union will be hosting members meetings to explain the proposition and to answer any questions on the details of the proposals.”

Mr Murphy continued: “Included in the proposal is a once-off transition payment which will be paid to all transferring employees. The value of this payment will be €1,000/£860 per transferring employee.”

If members vote to accept the proposals the first transfer will be scheduled to happen in mid-July with the remainder spread over the following months.

Last month, Ulster Bank announced the close another nine branches in Northern Ireland within the next three months as part of the move towards digital banking. The branches affected are in Holywood, Warrenpoint, Dunmurry, Antrim, Ballymoney, Larne, Comber, Maghera and Clogher.