Frank Feighan
Ceist:352. Deputy Frank Feighan asked the Minister for Jobs, Enterprise and Innovation the position regarding efforts to attract a suitable buyer for MBNA's UK loan book. [31399/14]
Amharc ar fhreagraTuesday, 15 July 2014
Ceisteanna (352)
Freagraí scríofa
The position in relation to finding a suitable buyer for MBNA's UK loan book remains unchanged.
By way of background, the former MBNA Credit Card processing facility in Carrick-on-Shannon now comprises two operations.
Firstly, a new operation called AvantCard was established following the purchase of part of Bank of America’s Credit Card portfolio by Apollo Global Management. This operation employs approximately 250 staff, who manage the Irish card customers. These staff transferred from Bank of America to AvantCard (Apollo) under the EU Transfer of Undertakings Regulations on March 13 2013. This was a very positive development and provided more certainty regarding this part of the business.
The second operation remains in the ownership of Bank of America and employs approximately 200 people who manage the credit card customers located in the UK. The process regarding the possible sale of this UK credit card business remains on-going. Bank of America continues to look for a buyer for this part of the business.
On another positive note, Apollo has acquired the entire building in Carrick and has leased office space back to Bank of America. We welcome this investment in Carrick-on-Shannon by Apollo.
IDA Ireland has maintained regular contact with management at MBNA in Carrick, and with the parent company in the US, and has been working with both to promote the strengths of the Carrick operation to a broad range of potential investors.
My priority is that any decision taken by Bank of America (BOA) will have minimal impact on employees at the Carrick on Shannon operation and ensure that jobs are maintained at the facility. I emphasised this when I met with Senior Bank of America Executives in their Headquarters in Charlotte, North Carolina, some time ago.
I appreciate that the length of time in trying to secure a buyer for this part of the BOA business operations at Carrick must be causing uncertainty for employees. I want to assure you that every effort will continue to be made to resolve the issue to the satisfaction of all parties.