Major announcement expected on MBNA jobs

A major announcement is expected to be made on the future of jobs at Bank of America’s MBNA credit card facility in Carrick-on-Shannon in the next hour.

A major announcement is expected to be made on the future of jobs at Bank of America’s MBNA credit card facility in Carrick-on-Shannon in the next hour.

The bank is expected to confirm the sale of the Irish credit card arm of the business to Apollo Global Management.

Recently co-founder and senior managing director of Apollo Global Management, Marc Rowan, told a financial services conference in London, that his company is “about to buy” the Irish credit card business of a US bank.

Mr Rowan did not identify Bank of America directly as the counter-party, but he told the conference that Apollo had bought receivables from a large US bank “who, in the early 2000 period, thought it was a good idea to take their brand, particularly their credit card brand, and expand throughout Europe”.