Bank of Ireland’s Lee Evans and Pierce Butler sat down to discuss Brexit and the importance of taking away any risks to your business. 

Bank of Ireland’s treasury manager with global markets Paul Fleming sat down with head of FX trading, Lee Evans, and Pierce Butler, head of sectors, to discuss the latest developments on Brexit.

With so much uncertainty around what is going on in the UK, Bank of Ireland’s vodcast provided a timely update on what we need to be aware of ahead of the most crucial six months since Britain voted to leave the European Union.

Lee Evans opened the discussion by talking about where Brexit stands at the moment. “The EU offered the UK an extension to the 31^st of October and that extension is flexible. If the UK government can get the withdrawal agreement passed through the House of Commons, they will leave the EU on the first day of the following month.

“There are two key points in time to keep in mind; the end of May – if the UK do not partake in the EU parliamentary elections at the end of May, then they will leave either with or without a deal on the first of June. After that, if we don’t see a deal between June and October, then the 31^st of October will become the new deadline,” said Evans.

While businesses are in Ireland are crying out for clarity around what they will be faced with going forward, there was massive relief that there wasn’t a no-deal Brexit at the end of March, according to Pierce Butler. “This extension means that there is continued uncertainty as to what the final outcome will be and I think that’s unwelcomed from a business perspective,” he said.

“Various different reports have shown over recent months that a number of firms are postponing their investment decisions until they get that clarity. But we have also seen a number of companies deciding to go ahead with those decisions and there’s a number of reasons behind it; in some cases they don’t see themselves being impacted by Brexit, or in a lot of cases, companies just aren’t in the position where they can postpone that investment until that post 2020 scenario. Our message is to come and talk to us because we are keen to support them and help them develop their business,” added Butler.  

In relation to the currency markets, there hasn’t been a huge reaction to Brexit. “Currency markets were expecting some kind of an extension. Euro-Sterling was trading at 86p going into it, and it’s still broadly trading around that area. To move forward, we need to see some sort of clarity for currency markets to react.

“We’ve tried to engage with customers and what we have being saying since January is to try take the uncertainty and risk out of your business. We have being saying that the risks are two-sided for businesses and customers need to be aware of that,” said Evans.

Butler echoed those thoughts, saying, “I think a number of companies have been proactive in terms of understanding the potential impact of Brexit and for those that haven’t, we encourage them to do so. As Lee mentioned, while the extension is until the end of October, they could leave between now and then if they can get the majority agreement through. Firstly, understand the impact and engage with the revenue if you are going to be trading with the UK and then look and your supply chain and route to market.”

Here to help

Bank of Ireland is supporting customers through a dedicated team of dealers who are up to speed on what is going on with Brexit. There is also a Brexit portal which gives great information and updates, which you can access here, and the bank has also increased the unsecured FX fund from €20 million to €50 million.

The one day event will focus on best practices on social and digital for start-ups and small businesses in Ireland’s southeast. 

The Hatch Lab, a digital innovation hub in Gorey and partnership between Bank of Ireland and Wexford County Council, is sponsoring Southeast Digital Picnic, an exciting event to help businesses grow in Ireland’s southeast using social and digital marketing strategies.

Southeast Digital Picnic is the best social and digital marketing conference in the Southeast. Attending the event will be some of the world’s leading social and digital experts to deliver in-depth insights, combined with practical workshops that promises to be an exceptional day of digital learning and networking with a picnic theme.

Southeast Digital Picnic is Ireland’s first social media and digital marketing picnic themed conference with nine incredible speakers and two interactive workshops to help businesses grow their online presence.

This one day event is ideal for start-ups, small business owners, brands, agencies, marketers, bloggers, creatives and freelancers who are looking to implement the latest social and digital technologies and trends to improve their business. Attendees will benefit from expert insights on various topics including video marketing, social media strategy, Facebook ads, content marketing, working with influencers, SEO, PPC, understanding key metrics, community building and more.

Founder and event organiser, Sarah-Jane Vincent, who is also the owner of Miss Content Creative said, “In today’s modern world, disruptive technology is rapidly changing the way consumers interact and engage with brands. This presents a number of challenges for businesses, therefore it is vital for them to learn how to embrace social and digital technologies to ensure they remain relevant and work smarter as an industry.”

With IE Domain Registry (IEDR) recently announcing Gorey as ‘Digital Town 2018’, a social and digital conference such as Southeast Digital Picnic brings a day of inspiration, exciting opportunities and actionable insights to the community. Both local and global businesses will be able to learn, network and engage directly with industry experts and leverage the latest social and digital best practices.

Southeast Digital Picnic will take place on June 20th at Wells House and Gardens, Ballyedmond, Gorey, Co. Wexford. To learn more and book Early Bird tickets visit Southeast Digital Picnic. 

Mark Gallivan takes a look at the best executive cars on the market in Ireland for 2019.

Depending on your view, the rise of the ubiquitous Crossover SUV and impacted demise of the executive car in the hearts and minds of Irish new car buyers is either one of two things; pretty depressing or simply a change in what consumers perceive as motorised status.

In the first two months of 2019, six of the top ten selling new cars in Ireland were Crossover SUVs. If you dig deeper into these very same statistics and combine Jeep and MPV sector cars, a total of 22,049 were sold against 6,512 saloon cars. It seems buyers now champion a taller driving position, better versatility, load capacity and quasi go-almost-anywhere capability while sacrificing any semblance of driving enjoyment and the consequential trade-off of a compromised cruising refinement.

Speaking of the executive car segment, which ones should you consider? As a segment, it is defined by the contenders like the BWW 3-Series, Audi A4 and the Mercedes C-Class. What is the real winner here and what are the quirks and gripes that you may not have heard in other car reviews?

First place: BMW 3-Series – from €43,120

If you’ve quietly held a suspicion that the BMW 3-Series has slipped a bit in recent years, you would be correct. Somehow the cars core DNA of best in class steering and chassis dynamics was often described as very good rather than outstanding. Enter the all-new G30, the seventh generation of BMW’s executive car and now with a guarantee that BMW has mended the less-focused dynamics and delivered electric steering communication that is amongst the best I’ve tested. The step up in cabin architecture, with a new digital dashboard, makes good strides in keeping up with Audi’s A4.

You’ll like: Best in class driving dynamics, an improved infotainment system, fabulous agility and rewarding dynamics. Cabin a proper advance in design.

You’ll grumble: Avoid run-flat tyres – they ruin the ride. New digital dash less easy to read than analogue dials. M Sport trim is best option for looks but adds a harsh ride.

Second Place: Mercedes C-Class – from €37,710 (Pictured in main image)

Isn’t this where we’d usually find the Audi A4? It was. It was after testing the facelifted C-Class Saloon, Estate and fabulous Cabriolet recently, did I shift my opinion. True, the C-Class interior and actual build quality trails the A4 in places and if we’re being honest, only matches it for driving engagement. But as an overall ownership proposition for middle management executives – those with a burning ambition to do better – the Mercedes C-Class in any of the variants is a beautifully crafted car.

Sporting an intriguing range of smaller four-cylinder 1.5-litre petrol engines and 1.6 petrol/electric regenerative hybrids, along with the larger perennial larger engined diesel and petrol engines, the range is vast enough to suit all buyers. Where the Saloon version of the C-Class scored well is the rear-wheel drive bias and creamy smooth steering and suspension composure. Of all the cars tested in this segment, it’s the C-Class you’d drive after a long day and 300 kilometers to travel before reaching home. Everything in the C-Class is geared towards reducing stress and eliminating unnecessary fatigue. And this all-around package is not limited to the Saloon. You can also opt for the Estate, Coupe or Cabriolet version. It’s a close thing, but the C-Class pips the Audi A4 to the second place spot.

You’ll like: Classy and composed with junior S-Class styling. Surprisingly fun to drive. Lovely cabin. Smart 1.5-litre petrol engine a good bet for low mileage drivers.

You’ll grumble: Gearbox kick down is slow. Some interior fittings would shame a VW Golf. Pricey options.

Third Place: Audi A4 – from €35,930

Just because the Audi A4 was launched four years ago, it doesn’t mean it is now relegated to an also-ran. So much was right from the start with the fifth-generation (B9) Audi A4 that it still warrants serious consideration for your executive car choice in 2019. No other car in the executive segment is better constructed and feels like it could survive everyday business and family duties for years while remaining largely unscathed. The car’s only demerit is after four years, Audi needs to update the exterior look and cabin layout. Lastly, if you’re less than six foot tall, make sure you test one over a longer drive. The driver’s seating position is set low and can feel claustrophobic. Otherwise, you’ll be treated to car that is a massive step up from the previous generation A4 and is decently rewarding to drive.

You’ll like: Bank vault build quality. Brilliant to drive, with excellent ride and refinement. Still looks sharp after four years.

You’ll grumble: Engine’s momentary hesitation when accelerating a concern. Seating position set too low and proves claustrophobic. Cost of Audi’s options extortionate.

Fourth Place Lexus IS – from €41,480

A surprising fourth place is given to the Lexus IS for several reasons. Granted, it’s not down to the Japanese brand’s sales success during 2018. By shifting a total of just 484 cars and registering a paltry 110 Lexus IS models during 2018, it is the forgotten executive car choice. Indeed, as left-field choices go, the Lexus IS is a 2019 panacea for the executive that is still mourning the demise of SAAB in December 2011.

But choosing a Lexus is to enter an elevated world of customer care and bullet-proof reliability. After all, Lexus won the top spot in the UK’s Auto Express with a golden 95.12 per cent reliability rating. In Lexus land you tend to bypass any semblance of indifferent customer experience. If you want to waft in a car that is constructed with millimetric precision and enjoy a cabin with solid sporting looks, then the Lexus IS as an ownership proposition with guaranteed rarity in the German default car park.

You’ll like: Excellent reliability reputation. Genuine customer care. The 2017 update tweaked and honed the IS to within tiny tolerances. Immense and a brilliant left-field choice.

You’ll grumble: Infotainment system is fiddly to use. Hybrid never as seamless as suggested.

By Mark Gallivan

Bank of Ireland celebrated International Women’s Day supporting gender diversity in the workplace conference in Limerick

Bank of Ireland celebrated International Women’s Day 2019 by supporting the 11th International Women’s Day Conference at the University of Limerick. The event shed light on the importance of gender diversity in the workplace and the significance of female representation at all levels of business.

The conference was chaired by Catherine Duff, general manager at Northern Trust and was addressed by inspirational female leaders including; Gillian Harford, county executive 30% Club Ireland, Professor Helen Kelly Holmes, dean faculty of arts, humanities and social sciences at UL and Vicky Phelan, cervical cancer activist.

Bank of Ireland is hosting a series of gender diversity seminars taking place nationwide as part of its campaign #BalanceForBetter. This campaign is highlighting the positive impact women have in the workplace and the value they add at all levels of a business.

Addressing the conference, Andrew Keating, group chief financial officer at Bank of Ireland said, “Bank of Ireland has developed the #BalanceForBetter campaign to encourage better awareness of gender diversity in the workplace and the importance of women being in senior leadership roles. We have heard from a number of inspirational female leaders here today and this conference, along with Bank of Ireland seminars rolling out nationwide, are demonstrating the importance for all businesses to work towards better gender balance at all levels within their organisation.”

By 2021, all appointments or promotions for senior grades in Bank of Ireland will be split 50:50, male and female. They group have already made great progress and are well on course to reach their target.

“Men, including myself, have long enjoyed the unfair advantage of achieving our ambitions, while many women couldn’t do so. It’s a proven fact that the greater the diversity, the greater the innovation, and greater innovation leads to greater commercial success,” added Keating.

In closing his keynote speech, he said, “I don’t want my son Darragh to have more opportunities than his sister Aisling based of his gender, and I don’t want Aisling to have more opportunities than Darragh, I just want equality and a better balance for all.”

Does better balance mean better business?

Gillian Harford, country executive of the 30% Club, gave a powerful talk on diversity in Ireland stating that while progress is being made, females are still massively underrepresented in leadership positions across all sectors in Ireland. “Ireland is one of the best countries in the world for equal education with 56% of undergrads being women, but we are not seeing this have an effect on leadership roles with just 18% of positions on boards being occupied by females.”

She continued, “Diversity is not important unless you have inclusion. Diversity means I’m here, but inclusion means I’m heard.

“I&D is not a numbers game, and it’s not about women winning and men losing, it’s about capitalising all talents. Better balance means we give everyone an equal opportunity to thrive and break down barriers,” she finished.

Also discussing the topic with an onus on vulnerability, Mary T. Tierney, from Azurite Consulting Ltd, discussed why creativity and innovation is what make businesses thrive, and why we need an equal balance in order to thrive.

She also talked about how people feel ashamed about their vulnerabilities and “run as far away as possible” from them.

“Vulnerability is not a weakness. It’s our most accurate method for courage – in fact it’s our only pathway to courage. We need to start having the correct conversations without worrying about possible implications or opinions. Embracing vulnerability is a minute-by-minute choice as it happens every single day,” said Tierney.

Powerful women and leadership

Professor Helen Kelly Holmes, dean of the faculty of arts, humanities and social sciences at the University of Limerick said women are really starting to be heard, drawing on the Repeal referendum last year, which “gave a great insight into the power women have in Ireland”. Historically, to be a powerful woman was to act like a man when in a position of power, according to Holmes, but this has now changed.

“Having women in positions of leadership isn’t about having a woman ruling over everyone else. It’s about having women in positions where they have a voice and can effect change,” before discussing her own industry, saying, “A lot of statistics show that universities are problematic institutions for women. They are incredibly slow to change and are very conservative institutions.”

Dr Christine Cross, head of department, work and employment studies at UL echoed Holmes’ thoughts and spoke about ‘gendered language’ and the role it plays in recruitment.

“There are a number of words that are considered ‘gendered language’ so we need to be cognisant of this when writing job descriptions so that we are encouraging more females to apply for roles and take risks.

“Women will only apply for senior positions when they believe they meet 100% of the criteria in a job description – whereas men are likely to apply if they only meet 50% of the criteria.

“Visibility is six times more important than your performance to move up the ladder into senior positions. Women need to be putting themselves out there more,” she concluded.