Shares in Bank of Ireland have climbed sharply this morning in the wake of the weekend resignation of Mr Michael Soden as its chief executive.
The bank's shares were up 38 cent to €10.08 in Dublin by lunchtime today, fuellng speculation of a takeover.
The bank's directors are expected to announce a new chief executive within days, with senior executives Mr Brian Goggin and Mr Des Crowley believed to be the front runners.
The bank will be keen to have a smooth transition to reassure investors, with the news of Mr Soden's departure reported internationally.
Mr Soden resigned on Saturday after he was found to have accessed an Internet site that had links to material of an adult nature that breached the bank's Internet policy.
Speaking to
The Irish Timesyesterday, Mr Soden said he very much regretted what had happened. "It was a silly incident. It was unfortunate and I am paying a very high price for it. It was a case of curiosity killed the cat."