Allfirst Financial Base CaseBy Sean Gallagher | Posted 2002-03-12 Print
Allfirst Financial ran its currency trading desk without much of the software that was standard at its corporate parent, Allied Irish Banks. Was that a $690 million mistake?
Allfirst Financial Base Case
Headquarters: 25 South Charles St., Baltimore, MD 21201
Phone Number: (410) 244-4000
Business: Provides comprehensive corporate, commercial, correspondent and retail banking services, personal and corporate trust services in Mid-Atlantic states
Chief Information Officer: William G. Fitting, Senior Vice President, Operations and Processing Services
Financials, nine months 2001: $1.1 billion in revenue, $149.4 million in net income, net profit margin 14.1%
Challenge: To maintain and increase profitability in a competitive regional financial services marketplace
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