Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

The position regarding the potential developments at the two operations which formerly formed part of the original MBNA-Bank of America facility in Carrick-on-Shannon is essentially unchanged over recent months. The former MBNA credit card processing facility in Carrick-on-Shannon now comprises two operations. First, 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 13 March 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 ongoing. Bank of America continues to look for a buyer for this unit.

On another positive note, Apollo has acquired the entire building in the town and has leased office space back to Bank of America. We welcome this investment in Carrick-on-Shannon by Apollo.

My priority is that any decision taken by Bank of America will have minimal impact on employees at the Carrick-on-Shannon operation and will ensure jobs are maintained at the facility. I emphasised this when I met senior executives of Bank of America in their headquarters in Charlotte, North Carolina. The IDA is in regular contact with Bank of America management in Dublin and with the parent company in the US to monitor developments. The IDA met senior executives of Apollo in London in September last where the transfer of the Carrick-on-Shannon facility and staff to Apollo and further investment opportunities for the group in Ireland were discussed. The IDA also keeps in touch with Apollo in Carrick-on-Shannon and held discussions just last month with the new manager of the AvantCard operation there. The IDA will remain in contact with the companies and will continue to highlight the strengths of the Carrick-on-Shannon operation to a broad range of potential investors.

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