Naughten again raises MBNA jobs with Minister

In Business & Jobs by Denis Naughten

Local TD, Denis Naughten questioned Minister Richard Bruton in the Dáil this week seeking an update on the discussions regarding the Bank of America’s MBNA credit card division in Carrick on Shannon. In response the Minister stated that the IDA “is in regular contact with Bank of America management in Carrick-on-Shannon and Dublin and at corporate level to monitor developments and is also in contact with Apollo Global Management.”

While 250 jobs at the site were secured following the sale of the Banks of America’s Irish portfolio Apollo Global Management, the Minister stated: “Disposal of UK MBNA portfolio, which is serviced out of Carrick on Shannon, is not as advanced as the disposal of its Irish portfolio”.

Commenting on the Ministers response, Denis Naughten said “The UK portfolio jobs in MBNA are of huge importance not alone to the staff but also to the town of Carrick-on-Shannon and the surrounding area and all efforts must be made to safeguard employment and for the smooth transfer of this operation to a new owner.”

“It is now nearly 12 months since the news first broke on the threat to the Carrick on Shannon operation and  staff working on the UK MBNA portfolio are still none the wiser as to their future with the Company” said Denis Naughten.

“I will be continuing to raise this important issue with Minister Bruton, until a suitable owner is found for the UK portfolio and I have also asked the Minister to explore new avenues whereby to Apollo Global Management may consider an expansion to its Carrick on Shannon operation”, concluded Denis Naughten.



To ask the Minister for Jobs, Enterprise and Innovation the steps he is taking to secure the jobs at the MBNA site in Carrick on Shannon, County Leitrim; and if he will make a statement on the matter.

– Denis Naughten.


For ORAL answer on Thursday, 12th July, 2012.



Minister for Jobs, Enterprise and Innovation (Mr Bruton):

I propose to take Questions  25 and 114 together.

The process regarding the sale of Bank of America’s (BOA) Irish and UK credit card businesses is on-going.

Negotiations regarding the sale of the MBNA Ireland portfolio have culminated in its recent sale by BOA to Apollo Global Management, a leading global alternative investment manager headquartered in New York.  This transaction involves the approximately 250 employees in Carrick-on-Shannon currently supporting the Irish portfolio transferring to Apollo, under Transfer of Undertakings regulations, in 2013 following a transitionary period for a number of months commencing in 2012. I understand that Apollo and BOA are currently finalising the sale contract.

IDA continues to monitor the situation closely, providing appropriate input into the process as it moves forward.  The Agency is in regular contact with Bank of America management in Carrick-on-Shannon and Dublin and at corporate level to monitor developments and is also in contact with Apollo.

BOA has not yet sold the UK MBNA portfolio, which is the other business supported out of Carrick-on-Shannon. The IDA understands that the sale of this part of the business is not as advanced as the MBNA Ireland portfolio.

The IDA will seek to maintain its insight into Apollo’s strategy for the Carrick-on-Shannon centre and will emphasise both IDA’s and the Irish Government’s interest in supporting the group to build on the existing capability in Carrick-on-Shannon by adding further business in due course.