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Bank of Ireland chief quits over PC porn

Compromised during 'routine maintenance'

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The chief executive of the Bank of Ireland, Michael Soden, has quit his job after porn was found on his company PC. Shares in the bank have been buoyed up by the news, which has sparked speculation of a takeover.

The material was discovered during routine maintenance of his machine, and the results of the internal investigation were leaked to a local newspaper.

There is no suggestion that any of the material was illegal, but it was forbidden under bank policy. "I now accept that accessing this material was inappropriate and would cause embarrassment to Bank of Ireland," Soden said in a statement.


According to financial news site FinExtra, as well as checking out naughty pictures, Soden also visited a site advertising an escort agency in Las Vegas.

All in all, it was not a good weekend for Irish banks. Tax evasion by senior executives at Allied Irish Banks (AIB) was exposed on Friday, prompting some calls for the resignation of AIB Chief Executive Michael Buckley.

And Taoiseach Bertie Ahern said the reputation of the banking industry was at stake. He told reporters for Irish state broadcaster RTE: "I do not want to see the Irish financial institutions ridiculed internationally." ®

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