Danske Bank (Ireland)
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| Subsidiary of Danske Bank | |
| Founded | Dublin, Ireland (1986) |
| Headquarters | Dublin, Ireland |
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Key people
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Thomas F. Borgen (Chairman of Executive Board) Terry Browne (Country Head, Republic of Ireland) |
| Products | Financial services |
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Number of employees
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366 (2012) |
| Parent | Danske Bank |
| Website | www.danskebank.ie |
Danske Bank, formerly known as the National Irish Bank, is a bank operating in the Republic of Ireland. The bank is a subsidiary of the Danske Bank Group which is headquartered in Copenhagen.
Danske Bank is organised in three business units – Personal Banking, Business Banking and Corporates & Institutions – that span all of the Group's geographical markets. Since November 2012, all of the Group's banking activities have been gathered under the Danske Bank brand name. The group's websites were brought fully into alignment with the new organisation at the same time.
National Irish Bank was originally the Republic of Ireland branch network of Northern Bank, one of the oldest banks in Ireland, having been founded as a private partnership in 1809, converting to a joint stock entity in 1824. National Irish Bank was created as a separate entity in 1986, at first under the name Northern Bank (Ireland) Limited, when its owners, UK-based Midland Bank, separated Northern Bank's operations in the Republic of Ireland from its Northern Ireland business.
In 1987, both banks were acquired by National Australia Bank (along with Midland Bank's Scottish subsidiary, Clydesdale Bank). In 1988 the Republic of Ireland operation was renamed National Irish Bank Limited whilst Northern Bank Limited remained the name of the Northern Ireland operation. Nonetheless, a single management team continued to run both banks, which shared many services and back office functions. During this era, the logo of the National Irish Bank was that of the National Australia Bank (at the time), except that the red star had been recoloured green, and "Irish Bank" was added alongside the word "National". The original Northern Bank (Ireland) logo had been the Midland Bank griffin.
In 1988, Jim Lacey had been appointed CEO of NIB. He was briefed to spearhead a campaign to raise the bank’s profile, which included innovations such as lower interest rates. Lacey commissioned a high-profile advertising campaign, featuring fictitious NIB manager Martin, who would repeatedly call his cousin Niall about the great deals the bank was offering.
In 1993, Irish crime lord Martin Cahill planned a raid on NIB, using then CEO Jim Lacey and his family as hostages to extract up to €10 million in cash. In early 1993 John "The Coach" Traynor met with his boss Cahill to provide him with inside information about the inner-workings of NIB at College Green, Dublin. Traynor told Cahill that the bank regularly held more than €10 million in cash in the building. The plan was to abduct Lacey, his wife and four children and take them to an isolated hiding place. There they would be held with fellow gang member, but acting as a "hostage" Jo Jo Kavanagh, who would frighten Lacey into handing over every penny stored in the bank's vaults.
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Wikipedia